(Sempra, 4.Apr.2022) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), and Korea Gas Corporation (KOGAS) announced the companies have entered into a memorandum of understanding (MOU) to explore opportunities to cooperate in the global energy transition to lower-carbon and zero-carbon fuels.
The MOU contemplates the companies’ joint collaboration around project development and offtake across multiple business areas, including liquefied natural gas (LNG), carbon capture and sequestration, and hydrogen infrastructure.
“We are excited to work with KOGAS to advance the development of a series of critical, energy-transition projects,” said Justin Bird, CEO of Sempra Infrastructure. “Given our shared values and strategies, there are multiple opportunities for Sempra Infrastructure and KOGAS to collaborate across the lower-carbon value chain to deliver cleaner and more secure energy to our partners around the world.”
“Signing this MOU, KOGAS and Sempra Infrastructure share a strong commitment to decarbonization and green energy, including a joint commitment to take a leadership role in the lower-carbon energy market. KOGAS will focus on securing a new growth engine for the future by developing new business projects with Sempra Infrastructure,” said Chae Hee-bong, KOGAS CEO and President.
Sempra Infrastructure is currently developing multiple world-class energy transition projects in North America, including LNG export projects to serve customers in both the Atlantic and Pacific Basin, as well as new opportunities in renewable energy, carbon capture and sequestration, hydrogen and ammonia.
The referenced MOU is non-binding, and the development of these joint projects is subject to a number of risks and uncertainties, including reaching definitive agreements, securing all necessary permits, and reaching a final investment decision with respect to each project.
____________________
