Friday, November 03, 2006

Construction Problems Stymie Sempra's LNG Plans.

Sempra revealed in an investor conference call yesterday that it's slow-going on the LNG front:

"Talks to expand the company's liquefied natural gas plant in Baja California have slowed down because of delays in the construction of overseas facilities, Chief Executive Don Felsinger said. "Longer term, we are still very bullish," he said during a conference call with analysts and investors.

The Mexico plant is more than 50% complete. The company's second facility, in Louisiana, is about 30% done, Felsinger said. Both are set to begin operating in 2008."

In other news, Sempra profits soared in Q3 due primarily to power plant sales.

Sempra profit nearly triples on asset sales [Los Angeles Times]