Sempra Agrees $10B Sale; Port Arthur LNG FID

Sempra agreed to sell a 45% stake in Sempra Infrastructure Partners to affiliates of KKR and the Canada Pension Plan Investment Board for $10 billion, valuing the platform at about $22.2 billion in equity and $31.7 billion on an enterprise basis, with the transaction expected to close in the second or third quarter of 2026. Company executives said the deal will strengthen Sempra’s balance sheet, help fund its 2025–2029 capital plan without issuing new equity, and is expected to add roughly $0.20 to annual EPS starting in 2027. Post-transaction ownership is expected to include KKR and partners holding roughly 65%, Sempra retaining about 25% and the Abu Dhabi Investment Authority about 10%. Separately, Sempra Infrastructure Partners approved a final investment decision on the $14 billion Port Arthur LNG Phase 2 expansion, backed by roughly $7 billion of minority equity led by Blackstone Credit & Insurance alongside KKR, Apollo-managed funds and Goldman Sachs Alternatives. Bechtel Energy was hired to build the expansion, with Trains 3 and 4 targeted to begin operations in 2030–2031 and long-term offtake agreements reportedly in place. The combined corporate sale and project news lifted Sempra shares about 4.6% to a near seven-month high.