SAN DIEGO, Jan. 5, 2005 (PRIMEZONE) -- Sempra Energy (NYSE:SRE) has renamed several of its subsidiaries operating in competitive energy markets to more accurately describe their business focus.
Sempra Energy Global Enterprises, the umbrella company for Sempra Energy's competitive energy businesses, now is Sempra Global. Its operating units are active in commodity marketing, electric generation, liquefied natural gas (LNG) development, pipelines and storage facilities and transmission and distribution assets.
"Since 1998, when Sempra Energy was formed, our competitive businesses have grown rapidly and evolved," said Mark Snell, group president of Sempra Global. "These new names more effectively describe their current business focus."
The commodity marketing business now is Sempra Commodities, which includes Sempra Energy Trading. The group markets and trades physical and financial commodity products, including natural gas, power, petroleum products and base metals. It is the second-largest natural gas marketer in North America. Sempra Commodities also owns London-based Sempra Metals Limited and Liverpool, England-based Henry Bath Limited, which provides warehousing services for non-ferrous metals in Europe, Asia and the United States.
Sempra Generation, formerly Sempra Energy Resources, develops, operates and acquires power plants and energy infrastructure for the competitive market. Sempra Generation operates a fleet of power plants that generate electricity for the wholesale market and for retail electric providers, such as utilities, marketers and large energy users.
Sempra Energy LNG's new name is Sempra LNG. Sempra LNG leads Sempra Energy's efforts to develop, build and operate LNG receiving terminals. The company currently is developing a terminal near Lake Charles, La., and another in Baja California, Mexico. Sempra LNG is seeking permits for a third receipt terminal in Port Arthur, Texas.
Sempra Pipelines & Storage, formerly Sempra Energy International, retains management responsibility for Sempra Energy's transmission and distribution assets in Mexico and South America, but has expanded its operations to include the development and operation of natural gas pipelines and storage facilities in the United States.
The operations of the subsidiary formerly known as Sempra Energy Solutions have been absorbed by Sempra Commodities, for management of the energy retail-trading group, and Sempra Generation, for energy services and facilities management.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2003 revenues of $7.9 billion. The Sempra Energy companies' 13,000 employees serve more than 10 million customers in the United States, Europe, Canada, Mexico, South America and Asia.
Sempra LNG and Sempra Pipelines & Storage are not the same companies as the utilities, SDG&E or SoCalGas, and are not regulated by the California Public Utilities Commission. Sempra Energy Trading, doing business as Sempra Commodities, and Sempra Generation are not the same companies as the utilities, SDG&E or SoCalGas, and the California Public Utilities Commission does not regulate the terms of their products and services.