Global demand for natural gas and LNG is expected to continue to grow. IEnova and Sempra LNG each intend to continue to support this growth by diversifying their offerings, in particular by developing bundled carbon offset LNG products to help meet customer demand.
Justin bird, CEO of Sempra LNG said: “We are delighted to advance our goal of reducing the intensity of GHG emissions at our LNG facilities. Sempra LNG continues to build a strong business portfolio focused on sustainability and the global energy transition.
Carbon dioxide (CO2) and methane (CH4) emissions associated with the LNG cargo, from the wellhead to the unloading terminal, will be estimated using bp’s GHG quantification methodology for LNG . The methodology has been developed in accordance with relevant international standards and may be updated from time to time.
These estimated emissions will be offset by the withdrawal of a corresponding amount of carbon credits from a Mexican afforestation project from the offset portfolio approved by bp on behalf of Sempra LNG.
Carol howle, EVP of trading & shipping at bp said: “Natural gas has a key role to play in bringing the world to net zero. This new offering once again demonstrates our determination to remain one of the most innovative LNG suppliers in the world. The development and continuous improvement of a clear and reliable methodology to quantify the carbon intensity of our LNG supply chain is an important step in helping our customers achieve their sustainability goals and supports our ambition to help the world to reach net zero. “
Sharon Weintraub, SVP, gas and power trading international at bp, said: “The supply of carbon offset LNG is an important part of meeting the growing global energy demand. For bp, this is part of continuing to meet growing customer demands for new energy solutions that will amplify value for For customers, it means access to exciting initiatives that can help them pursue their development strategies sustainable by quantifying the carbon intensity associated with the LNG supply from bp’s diversified portfolio of LNG sources, and then offsetting these emissions.
More broadly, bp has defined specific GHG reductions and other targets for 2030 in support of its ambition to be a net zero company by 2050 or earlier and to help the world achieve zero. net. bp does not intend to rely on carbon credits to achieve its 2030 objectives.
Tania Ortiz, CEO of IEnova added: “We are delighted to be working with Sempra LNG to help deliver the natural gas customers need so much in Mexico in a sustainable way. We are always looking for new ways to create value not only through the safe and responsible operation of our facilities, but also by contributing to the energy transition. “
Sempra LNG and IEnova are currently building liquefaction facilities which will be located next to ECA. Although this carbon-compensated LNG cargo comes from bp’s global LNG portfolio, ECA will continue to meet the needs of its existing customers, including from receiving multiple LNG cargoes each year under an agreement of long-term sale and purchase between bp and its partners Tangguh LNG and Sempra LNG.
Sempra LNG has set a target of operating its existing LNG infrastructure at a GHG emission intensity 20% lower than its 2020 baseline and plans to set additional targets by 2025, as the business continues to grow and bring more projects online.
About Sempra LNG
Sempra LNG’s mission is North America leading LNG infrastructure company in providing sustainable, safe and reliable access to US natural gas for global markets. Sempra LNG holds interests in Cameron LNG, a 12 Mtpa export facility operating in Hackberry, Louisiana and Energía Costa azul (ECA) LNG, a 3 Mtpa export facility under construction at Baja california, Mexico. Sempra LNG is developing additional LNG export facilities on the Gulf and Pacific coasts of North America including Port Arthur LNG in Texas, Cameron LNG and ECA LNG extensions, as well as pipeline and storage project support. Through disciplined and innovative processes, Sempra LNG facilitates the global energy transition by leading the responsible development of investments in low-carbon energy infrastructure throughout the LNG value chain. For more information on Sempra LNG, please visit www.SempraLNG.com.
The aim of bp is to reinvent energy for people and our planet. It aims to be a net zero company by 2050, or sooner, and help the world achieve net zero, as well as a strategy to make that ambition a reality. bpGM is a 100% subsidiary of bp plc. Its main business activities include trading in gas, electricity, LNG, emissions and other energy products in the UK and overseas. For more information about bp, please visit www.bp.com.
IEnova develops, builds and operates energy infrastructure in Mexico. At the end of 2020, the company had more than 1,400 employees and approximately $ 10.5 billion of its total assets, making it one of the largest private energy companies in the country.
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In this press release, forward-looking statements may be identified by words such as “believes”, “expects”, “anticipates”, “plans”, “estimates”, “plans”, “forecasts”, “should “,” Could “,” “would”, “will”, “confident”, “could”, “may”, “potential”, “possible”, “proposed”, “in progress”, “under construction”, ” developing “,” target “,” prospect “,” maintain “,” continue “or similar expressions, or when discussing our directions, priorities, strategy, objectives, vision, mission, opportunities, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those described in forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuance or revocations of permits and other authorizations, and other actions by (i) the United States Department of Energy and other regulatory and government agencies and (ii) United States states, counties, cities and other jurisdictions, Mexico and other countries in which we do business; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks related to (i) the ability to make a final investment decision, (ii) the completion of construction projects or other transactions on time and on budget, (iii) the ability to derive the expected benefits from these efforts if completed, and (iv) obtain the consent of partners or other third parties; the resolution of civil and criminal disputes, regulatory investigations, inquiries and proceedings, and arbitrations; the impact of the COVID-19 pandemic on our investment projects, regulatory approval processes, supply chain, liquidity and trade execution; actions taken by credit rating agencies to downgrade or downgrade our credit ratings and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate dependence on natural gas and the impact of oil price volatility on our activities and development projects; weather conditions, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, computer system failures and other events that disrupt our operations, damage our facilities and systems, cause release of harmful materials, cause fires and make us liable for property damage or personal injury, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may affect our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to storage and pipeline infrastructure, information and systems used to operate our businesses, and the privacy of our proprietary information and the personal information of our customers and employees; expropriation of assets, failure of foreign governments and public entities to honor their contracts and land disputes; the volatility of exchange rates, inflation, interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control.
These risks and uncertainties are discussed in more detail in the reports that Sempra Energy has filed with the United States Securities and Exchange Commission (SEC). These reports are available free of charge through the EDGAR system on the SEC website, www.sec.gov, and on the Sempra Energy website at www.sempra.com. Investors should not place undue reliance on forward-looking statements.
Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not the same company as San Diego Gas & Electric or Southern California Gas Company, and Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not regulated by the services California audiences. Commission.
SOURCE Sempra LNG