SAN DIEGO, Feb. 19, 2015 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its IEnova and Sempra LNG units have signed a Memorandum of Understanding (MOU) with a subsidiary of PEMEX, Mexico's state-owned petroleum company, for the cooperation and coordination in developing of a natural gas liquefaction project at the site of the Energía Costa Azul receipt terminal in Ensenada, Mexico.
The MOU defines the basis for the parties to explore PEMEX's participation in the potential Energía Costa Azul liquefaction project, including joining efforts on its development and structuring agreements that would allow opportunities for PEMEX to become a customer, natural gas supplier and investor.
"This is an important first step in working with PEMEX on the development of liquefaction facilities at Energía Costa Azul," said Mark A. Snell, president of Sempra Energy. "We look forward to working collaboratively with PEMEX and our existing customers as the development continues to advance."
When completed in 2008, Energía Costa Azul became the first LNG receipt terminal operating on the west coast of North America. The terminal is capable of processing up to 1 billion cubic feet of natural gas per day.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2013 revenues of more than $10.5 billion. The Sempra Energy companies' 17,000 employees serve more than 31 million consumers worldwide.
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Sempra International, LLC, and Sempra U.S. Gas & Power, LLC, are not the same companies as the California utilities, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra International, LLC, and Sempra U.S. Gas & Power, LLC, are not regulated by the California Public Utilities Commission. Sempra International's underlying entities include Sempra Mexico and Sempra South American Utilities. Sempra U.S. Gas & Power's underlying entities include Sempra Renewables and Sempra Natural Gas.
SOURCE Sempra Energy