Sempra Signs Long-Term LNG Supply Agreement with Petrobras
On September 14, Sempra Infrastructure, a subsidiary of Sempra Energy (NYSE:SRE), signed a 20-year agreement to supply approximately 0.8 million tonnes per year of liquefied natural gas (LNG) to Brazil's Petrobras. This marks the first time a South American company has become an LNG customer for Sempra and is part of its broader strategy targeting both Atlantic and Pacific markets. The contract relates to Port Arthur LNG Phase 2 in Texas, which will not begin operations until 2030 or later due to ongoing construction delays. Despite this long lead time before revenue generation begins, the deal reinforces a growing demand for energy infrastructure across multiple regions. Sempra also reported strong second-quarter earnings and raised its full-year guidance. The company is funding significant capital expenditures through asset sales and faces regulatory uncertainties in California that could affect future returns.
