Sempra sells $10 billion stake and greenlights LNG expansion
US energy company Sempra is cashing in on part of its infrastructure arm with a $10 billion sale, while at the same time approving a massive liquefied natural gas (LNG) expansion in Texas that could double exports by the next decade.
The San Diego-based company announced it will offload a 45% stake in Sempra Infrastructure Partners to a consortium led by private equity group KKR and the Canada Pension Plan Investment Board. The deal, valuing the business at $31.7 billion, is expected to close in mid-2026 and marks one of the largest transactions in the US energy sector this year.
Sempra will remain a minority investor alongside the Abu Dhabi Investment Authority but says the sale will free up funds for regulated utility operations in California and Texas. Chief Executive Officer of Sempra, Jeffrey W. Martin, called the deal “a major step towards reshaping Sempra as a leading US utility growth company”.
The timing of the divestment coincides with a final investment decision on Port Arthur LNG Phase 2 in Texas. Backed by global investors including Blackstone, Apollo and Goldman Sachs, the $14 billion project will add two new liquefaction units, effectively doubling the site’s export capacity. Construction is due to begin soon, with operations targeted for 2030 and 2031.
For local communities, the LNG expansion is expected to generate thousands of construction jobs and long-term operational roles, as well as cementing Port Arthur’s role in US energy exports. The project also strengthens America’s position as the world’s top LNG supplier, a role that has grown increasingly important amid global energy insecurity.
Analysts say the twin announcements reflect a balancing act: Sempra is narrowing its business to focus on the steadier returns of utilities while still holding a stake in high-growth global gas markets. Proceeds from the sale will support Sempra’s $48 billion capital programme for 2025–2029 without raising customer bills through new equity financing.
The moves highlight a wider shift in the energy sector, where companies are streamlining to weather market volatility while continuing to invest in large-scale projects that secure America’s energy future.
