Sempra Divests Mexican Gas Assets, Infrastructure Stake

Sempra is planning to sell its Mexican natural gas distribution utility, Ecogas, and a minority stake in Sempra Infrastructure Partners to streamline operations and focus investment on its core U.S. utilities in Texas and California. The sales are part of a strategy to support a $56 billion capital expenditure plan through 2029, with a significant portion of the investment directed towards Texas utilities. Previously, Sempra sold 30% of its LNG subsidiary in deals with Kohlberg Kravis Roberts & Co. and Abu Dhabi Investment Authority, raising billions. The ongoing divestment is expected to be completed within 12 to 18 months, contingent on regulatory approvals and partner rights of first offer. This move aligns with Sempra's efforts to maintain robust financial health while pursuing growth in energy infrastructure projects. The company has a strong track record of dividend growth, contributing to its financial stability.