SOURCE: Sempra LNG

Sempra LNG

June 21, 2010 03:14 ET

Sempra LNG Reports Mexican Court Order to Provisionally Suspend Regulatory Authorizations for Operation of LNG Terminal in Mexico

SAN DIEGO, CA--(Marketwire - June 21, 2010) -  Officials of Sempra LNG, a subsidiary of Sempra Energy (NYSE: SRE), today reported that, on June 18, they learned of a Mexican federal district court issuing an order on June 17 directing Mexican regulatory authorities to provisionally suspend authorizations for the operation of Sempra LNG's liquefied natural gas (LNG) terminal near Ensenada, Mexico, pending further legal proceedings. These legal proceedings will address an action by Ramon Eugenio Sanchez Ritchie based on his claim of possession of a land parcel adjacent to the terminal property.

The June 17 court order was issued, without notice or an opportunity to be heard to Sempra LNG, which has been engaged in a long-standing dispute with Sanchez Ritchie over this land parcel. The company purchased the parcel in 2006 after already having obtained all permits necessary to construct and operate the terminal. None of these permits are conditioned on ownership of the land parcel in dispute.

In response to Sanchez Ritchie's claims, Darcel L. Hulse, president and chief executive officer of Sempra LNG, said:

"Sanchez Ritchie has engaged in a long-running campaign, financed by others, to discredit Sempra. He and his financial backers are misusing the judicial, political and regulatory processes of Mexico in an attempt to extract money from the company. We believe that Mexican authorities will see these efforts for what they are and overturn this egregious and irresponsible court action."

Sempra Energy and its subsidiaries issue financial statements, press releases and other public statements that contain statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "would," "could," "should," or similar expressions, or discussions of strategies, plans or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, California Department of Water Resources, Federal Energy Regulatory Commission, Federal Reserve Board, and other regulatory and governmental bodies in the United States, the United Kingdom and other countries; capital market conditions and inflation, interest and exchange rates; energy and trading markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system without charge at the SEC's Web site, www.sec.gov and on the company's Web site, at www.sempra.com.

Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and Sempra Commodities are not the same companies as the utility, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and Sempra Commodities are not regulated by the California Public Utilities Commission.

Contact Information