HOUSTON, Feb. 2, 2024
/PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra
(NYSE: SRE) (BMV: SRE), today announced that it has entered
into a memorandum of understanding (MOU) with the Japan Bank for
International Cooperation (JBIC) to cooperate on opportunities to
advance the energy transition. Through this MOU, Sempra
Infrastructure and JBIC aim to further project structuring to
improve the global energy supply chain through liquefied natural
gas (LNG), hydrogen and other decarbonization efforts in both
the United States and Japan.
"Sempra Infrastructure is thrilled to expand its collaboration
with JBIC as we look forward to advancing projects that lower the
carbon intensity of our energy delivery assets in North America," said Justin Bird, CEO of Sempra Infrastructure. "We
have built our relationships with customers and the export credit
agencies in Japan over the past
decade and are excited to expand our relationship with JBIC as we
continue developing projects in support of our net-zero business.
This collaboration will help us continue advancing our mission of
developing energy infrastructure that provides access to safe,
secure and affordable energy to our global partners."
The Sempra family of companies have partnered in various ways
with Japanese companies for half a century. More recently, these
partnership efforts are reflected in Sempra Infrastructure's
Cameron LNG facility and recently announced strategic collaboration
with a Japanese consortium, which calls for an evaluation of
potential enhancements of the energy supply chain in support of
decarbonization through e-natural gas as part of the ReaCH4
Project. In addition, the company is developing the Hackberry
Carbon Sequestration Project, which contemplates the participation
of two Japanese companies. Both development projects are in close
geographical proximity to the Cameron LNG facility.
The U.S. Department of Energy and Japan's Ministry of Economy, Trade and
Industry are currently implementing a Memorandum of Cooperation
(MOC) in the field of carbon capture, storage, conversion and
recycling, and carbon dioxide removal. The MOU between Sempra
Infrastructure and JBIC is intended to help Sempra Infrastructure
and its customers in Japan meet
many of the objectives of the MOC and helps support further efforts
between the two countries to advance decarbonization efforts. As
Japan's policy-based financial
institution, JBIC has articulated a mission to continue to
financially support the creation of business opportunities for
Japanese companies and the securing of a stable supply of
energy.
The referenced MOU is a preliminary, non-binding arrangement,
and the development of any project in connection with the MOU is
contingent upon completing the required commercial agreements,
securing and/or maintaining all necessary permits, obtaining
financing, and reaching a final investment decision, among other
factors and considerations.
About Sempra Infrastructure
Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a
better world by developing, building and operating, and investing
in clean power, energy networks, and LNG and net-zero solutions
that are expected to play a crucial role in the energy systems of
the future. Through the combined strength of its assets in
North America, Sempra
Infrastructure is connecting customers across the globe to modern
energy infrastructure to source and transport renewables and
natural gas, while advancing carbon sequestration and clean
hydrogen. For more information about Sempra Infrastructure, please
visit www.SempraInfrastructure.com and social media.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on assumptions about the
future, involve risks and uncertainties, and are not guarantees.
Future results may differ materially from those expressed or
implied in any forward-looking statement. These forward-looking
statements represent our estimates and assumptions only as of the
date of this press release. We assume no obligation to update or
revise any forward-looking statement as a result of new
information, future events or otherwise.
In this press release, forward-looking statements can be
identified by words such as "believe," "expect," "intend,"
"anticipate," "contemplate," "plan," "estimate," "project,"
"forecast," "should," "could," "would," "will," "confident," "may,"
"can," "potential," "possible," "proposed," "in process,"
"construct," "develop," "opportunity," "initiative," "target,"
"outlook," "optimistic," "poised," "maintain," "continue,"
"progress," "advance," "goal," "aim," "commit," or similar
expressions, or when we discuss our guidance, priorities, strategy,
goals, vision, mission, opportunities, projections, intentions or
expectations.
Factors, among others, that could cause actual results and
events to differ materially from those expressed or implied in any
forward-looking statement include: decisions, investigations,
inquiries, regulations, denials or revocations of permits,
consents, approvals or other authorizations, and other actions by
the (i) U.S. Department of Energy, Comisión Reguladora de Energía,
U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue
Service and other governmental and regulatory bodies and (ii) U.S.,
Mexico and states, counties,
cities and other jurisdictions therein and in other countries where
we do business; the success of business development efforts,
construction projects, acquisitions, divestitures and other
significant transactions, including risks in (i) being able to make
a final investment decision, (ii) completing construction projects
or other transactions on schedule and budget, (iii) realizing
anticipated benefits from any of these efforts if completed, and
(iv) obtaining third-party consents and approvals; macroeconomic
trends or other factors that could change our capital expenditure
plans and their potential impact on growth; litigation,
arbitrations, property disputes and other proceedings, and changes
to laws and regulations, including those related to tax and trade
policy and the energy industry in Mexico; cybersecurity threats, including by
state and state-sponsored actors, of ransomware or other attacks on
our systems or the systems of third parties with which we conduct
business, including the energy grid or other energy infrastructure,
all of which continue to become more pronounced; the availability,
uses, sufficiency, and cost of capital resources and our ability to
borrow money or otherwise raise capital on favorable terms and meet
our obligations, including due to (i) actions by credit rating
agencies to downgrade our credit ratings or place those ratings on
negative outlook, (ii) instability in the capital markets, or (iii)
rising interest rates and inflation; failure of foreign
governments, state-owned entities and our counterparties to honor
their contracts and commitments; the impact on our ability to pass
through higher costs to customers due to volatility in inflation,
interest and foreign currency exchange rates and commodity prices;
the impact of climate and sustainability policies, laws, rules,
regulations, disclosures and trends, including actions to reduce or
eliminate reliance on natural gas, the risk of nonrecovery for
stranded assets, and our ability to incorporate new technologies;
weather, natural disasters, pandemics, accidents, equipment
failures, explosions, terrorism, information system outages or
other events that disrupt our operations, damage our facilities or
systems, cause the release of harmful materials or fires or subject
us to liability for damages, fines and penalties, some of which may
not be recoverable through insurance or may impact our ability to
obtain satisfactory levels of affordable insurance; the
availability of natural gas, including disruptions caused by
failures in the pipeline system or limitations on the withdrawal of
natural gas from storage facilities; and other uncertainties, some
of which are difficult to predict and beyond our control.
These risks and uncertainties are further discussed in the
reports that Sempra has filed with the U.S. Securities and Exchange
Commission (SEC). These reports are available through the EDGAR
system free-of-charge on the SEC's website, www.sec.gov, and on
Sempra's website, www.sempra.com. Investors should not rely unduly
on any forward-looking statements.
Sempra Infrastructure and Sempra Infrastructure Partners are
not the same company as San Diego Gas & Electric Company or
Southern California Gas Company, and none of Sempra Infrastructure,
Sempra Infrastructure Partners nor any of its subsidiaries is
regulated by the California Public Utilities Commission.
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SOURCE Sempra Infrastructure