Abu Dhabi Investment Authority (ADIA) has bought a 10% non-controlling stake in Sempra Infrastructure for US$1.73 billion
Sempra Infrastructure, part of Sempra, currently operates the Cameron LNG export terminal in Hackberry, Louisiana and recently awarded contracts for the phase 2 development works at the site. It is developing the Port Arthur export terminal in Texas, US, and the Energia Costa Azul (ECA) LNG receipt, storage and regasification terminal, in Baja California, Mexico. The company also operates natural gas infrastructure in the US and energy infrastructure in Mexico, including clean energy generation and refined product terminals.
Sempra now owns a 70% stake in Sempra Infrastructure, with KKR owning 20%. ADIA’s investment was first announced in December 2021 and the transaction has now completed.
‘Sempra Infrastructure is playing an important role in modernising energy networks and facilitating the energy transition. Since announcing our investment, our strategic partnership with Sempra and KKR has continued to strengthen, and we look forward to supporting Sempra Infrastructure as it expands its leading position in the energy transition,’ says Khadem AlRemeithi, executive director of the Infrastructure Department at ADIA.
Jeffrey W Martin, chairman and CEO of Sempra adds that the transaction ‘sends a clear signal about the value and expected growth prospects of our infrastructure platform.’