Diego

San Diego-based Sempra Energy announced an agreement Monday to acquire Mobile, AL-based EnergySouth for $510 million in cash, greatly expanding the western energy holding company’s storage infrastructure in the Gulf of Mexico. Under the terms of the deal EnergySouth shareholders are to receive $61.50/share.

Sempra Energy’s two-salt dome cavern, 17 Bcf Liberty Gas Storage project in Louisiana will be ready for injections late this summer, a San Diego, CA-based spokesperson for the energy holding company told NGI. Even with recent delays (see NGI, May 19), construction work continues at the site.

Sempra Energy’s two-salt dome cavern, 17 Bcf Liberty Gas Storage project in Louisiana will be ready for injections late this summer, a San Diego, CA-based spokesperson for the energy holding company told NGI late last Friday. Even with recent delays, construction work continues at the site.

San Diego-based Sempra Energy indicated at the start of this month that it is on target to start first shipments of liquefied natural gas (LNG) in early 2008 at its Costa Azul facility on the Pacific Coast of North Baja California, Mexico, and in 2009 at its Cameron facility on the Louisiana Gulf Coast. CEO Donald Felsinger gave the latest status report during a third quarter earnings conference call Nov. 1, noting the Baja California plant will add a $125 million nitrogen injection unit at the request of one of the terminal’s shippers.

San Diego-based Sempra Energy is on target to start first shipments of liquefied natural gas (LNG) in early 2008 and 2009, respectively, for its Costa Azul and Cameron facilities along the Pacific Coast of North Baja California, Mexico, and the Louisiana Gulf Coast, respectively, CEO Donald Felsinger told a third quarter earnings conference call Thursday. He also said the Baja California plant will add a $125 million nitrogen injection unit at the request of one of the terminal’s shippers.

San Diego, CA-based Sempra Energy was awarded approximately $172 million, including interest, to settle a 2002 dispute involving its 43% ownership of two Argentine natural gas holding companies, Sodigas Pampeana and Sodigas Sur, the company said last Tuesday. The award came from an autonomous third-party organization, the International Centre for Settlement of Investment Disputes.

San Diego, CA-based Sempra Energy was awarded approximately $172 million, including interest, to settle a 2002 dispute involving its 43% ownership of two Argentine natural gas holding companies, Sodigas Pampeana and Sodigas Sur, the company said Tuesday. The award comes from an autonomous third-party organization, the International Centre for Settlement of Investment Disputes.

While the stock market is concerned about the short-term implications for lower earnings, the joint venture of San Diego-based Sempra Energy’s successful energy-metals trading business with Royal Bank of Scotland (RBS) offers plenty to like in the long term, according to Michael Heim, an analyst with A.G. Edwards & Sons Inc., who follows Sempra. He still sees Sempra stock as valued in the $67/share to $70/share range.

While the stock market is concerned about the short-term implications for lower earnings, the joint venture of San Diego-based Sempra Energy’s successful energy-metals trading business with Royal Bank of Scotland (RBS) offers plenty to like in the long term, according to Michael Heim, an analyst with A.G. Edwards & Sons, Inc., who follows Sempra. He still sees the Sempra stock as valued in the $67/share to $70/share range.