UPDATE 1-Sempra confirms decision on Mexico LNG project, may delay decision on Texas plant [Reuters]
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Source: Reuters
UPDATE 1-Sempra confirms decision on Mexico LNG project, may delay decision on Texas plant (Updates with decision delay on proposed Texas plant) March 24 (Reuters) - Sempra Energy said on Tuesday it will go forward this year with plans to sanction a liquefied natural gas (LNG) export plant in Mexico, but may push back a decision on a separate Texas plant. A final investment decision will come in the second quarter for its Costa Azul LNG plant, a one-quarter delay to its earlier schedule. However, Sempra will no longer commit to a third quarter decision on its Port Arthur LNG project, officials said in a conference call. “The current economic environment may impact the schedule,” said Justin Bird, president of Sempra LNG. The company remains confident in the long-term demand for LNG and has commitments for about 70% of the Texas project’s output, he said. Investment decisions on other LNG projects are being stalled as global demand for gas is falling because of the coronavirus outbreak
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