Sempra (SRE) Announces a Non-Binding Agreement with JERA Co.

Sempra (NYSE:SRE) is one of the 10 Cheapest High-Quality Stocks to Buy According to Hedge Funds. On June 11, Sempra (NYSE:SRE) announced signing a non-binding heads of agreement with JERA Co. Inc. JERA Co. Inc. is one of the largest power generation companies in Japan.

The agreement covers a 20-year sale and purchase of 1.5 million tones per annum of liquefied natural gas from the Port Arthur LNG development project in Jefferson County, Texas. The Port Arthur LNG Phase 2 is an expansion of the existing Port Arthur LNG facility. Management of Sempra (NYSE:SRE) noted that the Phase 2 project has received all key permits and is expected to include two liquefaction trains capable of producing about 13 Mtpa of LNG. Moreover, the project is competitively positioned and is under active marketing, further enhancing its prospects.

We are pleased to collaborate with JERA, Japan’s largest power generation company and one of the world’s largest LNG buyers, as they continue to work with the United States, said Justin Bird, chief executive officer of Sempra Infrastructure.

Sempra (NYSE:SRE) is a leading North American energy infrastructure company that invests in, develops, and operates energy infrastructure and provides electric and natural gas services. Its operations are organized into three main segments including Sempra California, Sempra Texas Utilities, and Sempra Infrastructure.

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