Sempra Energy shares were just higher Monday after the energy services holding firm said its Cameron LNG project was granted Department of Energy authorization to export an extra 1.41 billion cubic feet of gas per day to countries that do not have a free-trade agreement with the U.S.
With this authorization, Sempra Energy said Cameron’s export capacity will be 24.9 million tons per year, or 3.53 Bcfd. Earlier this year, the company received regulatory approval to build and construct a $10 billion expansion project at its Cameron LNG joint venture in Louisiana.
The company said construction on the first phase of the expansion project is currently underway and that the facility is slated to begin operations in 2018, with the first full year of operations in 2019. Shares of SRE were moving in the upper end of the 52-week range of $86.72 to $114.66.
