Divulged

Amid generally upbeat financial results reported for the third quarter Monday (see related story), Sempra Energy divulged that its Liberty Gas Storage Project in Louisiana may have to be shelved if it can’t find an engineering solution to cavern development problems. Separately, cost increases and delays are plaguing two other major gas and power projects. CEO Don Felsinger said Liberty in a worst case scenario might have to be written off at about $65 million to cover Sempra’s share of the salt dome storage project.

Noting it has “three teams” of negotiators talking to Russia’s Gazprom, Sempra Energy divulged during a first-quarter earnings conference call Wednesday that it is exploring power generation and energy marketing deals with the gas producer in addition to processing some of its liquefied natural gas (LNG) through one or more North American receiving terminals.

Noting it has “three teams” of negotiators talking to Russia’s Gazprom, Sempra Energy divulged during a first-quarter earnings conference call Wednesday that it is exploring power generation and energy marketing deals with the gas producer in addition to processing some of its liquefied natural gas (LNG) through one or more North American receiving terminals.