Sempra is betting that continued global energy volatility and geopolitical tensions will strengthen North America’s key natural gas markets, supporting its investments in LNG exports and Mexico.

In the San Diego-based firm’s third quarter earnings call, CEO Jeff Martin said the series of global conflicts that have impacted global markets recently have accelerated a “trend toward deglobalization” that the firm believes will leave “North America as one of the principal beneficiaries…”

“We also believe these trends support important new growth in Mexico, where in the first half of 2023, foreign direct investment has risen sharply by approximately 40% over the prior year comparable period,” Martin said.

[What’s Coming? NGI’s North American LNG Project Tracker...