Diego

With declines in quarterly earnings but stronger results in trading and international businesses, San Diego-based Sempra Energy officials said Thursday they consider their company “ahead of the competition” to be the next major developer/operator of liquefied natural gas (LNG) terminals in North America — one on the Pacific Coast of North Baja California in Mexico and the other in the Gulf of Mexico offshore Louisiana.

Citing more discussion on the Mexican side of the border including its partner, San Diego-based Sempra Energy, PG&E Corp.’s National Energy Group (NEG) for the second time last week extended an open season on capacity on the 500 MMcf/d, 220-mile North Baja natural gas transmission pipeline. The open season previously had been extended until the end of last month, and they NEG indicated last week it now will run to the end of July.

Among a growing minority of healthy major energy sector players, San Diego-based Sempra Energy received a positive response from Standard & Poor’s Ratings Service last Wednesday that it has established an equity fund unit to seek partners in buying presumably bargain-priced energy assets.

Among a growing minority of healthy major energy sector players, San Diego-based Sempra Energy received a positive response from Standard & Poor’s Rating Service Wednesday to its announcement earlier in the week that it has established an equity fund unit to seek partners in buying presumably bargain-priced energy assets.

San Diego-based Brandes Investment Partners LLC, which owns 6% of the common shares of El Paso, said on Friday it will vote to keep the current board of directors. On May 31, Brandes owned nearly 36 million shares of the company, however some of its clients retain voting discretion.

A subsidiary of San Diego-based Sempra Energy announced last Wednesday it completed the purchase of a proposed liquefied natural gas (LNG) receiving terminal at Hackberry, LA, from Dynegy, agreeing to pay $20 million initially and additional contingent payments based on the performance of the project, which is estimated to cost $700 million.

A subsidiary of San Diego-based Sempra Energy announced Wednesday it completed the purchase of a proposed liquefied natural gas (LNG) receiving terminal at Hackberry, LA, from Dynegy, agreeing to pay $20 million initially and additional contingent payments based on the performance of the project, which is estimated to cost $700 million.

The U.S. Patent Office has approved protections for a unit of San Diego-based Sempra Energy’s technology for installing fiber optic cable in live natural gas distribution pipelines without disturbing the flow of energy supplies.

One of the energy sector’s currently financially healthy conglomerates, San Diego-based Sempra Energy purchased the natural gas trading book of financially struggling Michigan-based CMS Energy’s trading unit for $17 million, subject to final due-diligence reviews.