– Companies jointly develop LNG terminal in Topolobampo, Sinaloa
– The MoU provides for the negotiation of definitive agreements that would allow for the use of CFE’s excess natural gas and pipeline capacity, the resumption of operations of the Guaymas-El Oro Pipeline and the delivery of natural gas to Baja California Sur and global markets.
SAN DIEGO, January 31, 2022 /PRNewswire/ — Mexico’s Federal Electricity Commission (Comisión Federal de Electricidad, CFE), represented by its Director General, Manuel Bartlett Díaz, and Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV:SRE), represented by Tanya Ortiz MenaPresident of Sempra Infrastructure for Mexico, signed a non-binding Memorandum of Understanding (MOU) for the development of key proposed projects including Vista Pacífico LNG, a natural gas liquefaction project in Topolobampo, Sinaloa; a natural gas regasification project in La Paz, Baja California Sur; and the resumption of operations Guaymas–El Oro Pipeline in Sonora.
The development of these projects would allow CFE to optimize excess natural gas and pipeline capacity Texas to Topolobampo to increase the supply of natural gas to its power plants Baja California Surto advance President Andrés Manuel López Obrador’s commitment to provide the state with low-cost electricity and lower-emission fuels and to promote economic growth and development of the region to strengthen CFE’s position in global LNG markets.
The MOU also addresses the recommissioning of the Guaymas-El Oro pipeline in Sonora through a proposed diversion based on a mutual understanding between the Yaqui Community and CFE through continued respectful dialogue. This new route would enable CFE to supply natural gas to industrial, commercial and residential markets on the Pacific Coast Mexico, Baja California Surand the Vista Pacífico LNG facility.
Through these combined actions, CFE is helping to strengthen the country’s energy security and reaffirms its commitment to the Mexican people, while Sempra Infrastructure agrees to continue working on the development of critical new energy infrastructure Mexico.
About Sempra infrastructure
Sempra Infrastructure delivers energy for a better world. Through the combined strength of its assets in North America, the company is committed to the energy transition and beyond. With an ongoing focus on sustainability, innovation, world-class safety, caring for people, resilient operations and social responsibility, its more than 2,000 employees design, build and operate the clean energy, energy grids, LNG and net zero solutions that are expected that they do this will play a crucial role in the energy systems of the future. For more information about Sempra Infrastructure please visit www.SempraInfrastructure.com and follow us social media.
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Factors that could, among other things, cause actual results and events to differ materially from those described in forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuance or revocation of permits and other permits, and others Actions of (i) the US Department of Energy, the Comisión Reguladora de Energía, the US Federal Energy Regulatory Commission and other regulatory and governmental agencies and (ii) states, counties, cities and other jurisdictions in the United States, Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) to complete construction projects or other transactions on schedule and within budget, (iii) the ability to realize anticipated benefits any such effort, if completed, and (iv) obtaining consent or approval from partners or other third parties, including government entities; the resolution of civil and criminal litigation, governmental investigations, investigations and proceedings, and arbitrations; Legislative changes, including proposed changes to the Mexican Constitution that could significantly limit access to the power generation market, as well as changes to mexico trade rules that could significantly limit our ability to import, export, transport and store hydrocarbons; failure of foreign governments and governmental entities to honor their treaties and obligations and property disputes; actions by credit rating agencies to downgrade our credit ratings or downgrade those ratings to a negative outlook and our ability to borrow on favorable terms and meet our significant debt service obligations; the impact of energy and climate targets, policies, laws and regulations, including actions to reduce or eliminate dependence on natural gas generally; the pace of development and adoption of new technologies in the energy sector, including those developed to support the energy and climate goals of governmental and private parties, and our ability to integrate them into our business in a timely and economical manner; Weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information systems failures, or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires, or make us liable for property damage or personal injury, fines, and penalties, some of which may not be covered by insurance, may be contested by insurers, or may affect our ability to obtain a satisfactory level of affordable insurance; the availability of natural gas; the impact of the COVID-19 pandemic, including potential immunization mandates, on capital projects, regulatory approvals and the conduct of our business; Cyber security threats to the storage and pipeline infrastructure, information and systems used to operate our businesses, and the confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third parties and other parties with whom we do business; volatility of foreign exchange, inflation and interest rates and commodity prices and our ability to hedge effectively against these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions of international trade agreements, that may increase our costs, reduce our competitiveness or affect our ability to resolve trade disputes; and other uncertainties, some of which are difficult to predict and are beyond our control.
These risks and uncertainties are discussed further in Sempra’s reports filed with the US Securities and Exchange Commission (SEC). These reports are available free of charge through the EDGAR system at the SEC’s website, www.sec.gov, and on Sempra’s website at www.sempra.com. Investors should not place undue reliance on forward-looking statements.
Sempra Infrastructure is not the same company as San Diego Gas & Electric or Southern California Gas Company, and neither Sempra Infrastructure nor any of its subsidiaries are regulated by the California Public Utilities Commission.
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SOURCE Sempra North American Infrastructure