Sempra Energy, Mitsui & Co. Ltd., GDF Suez S.A. and Mitsubishi Corporation announced that they have signed 20-year tolling capacity and joint-venture agreements to support the development, financing and construction of a liquefied natural gas (LNG) export facility at the site of the Cameron LNG receipt terminal in Hackberry, La. The tolling agreements subscribe the full nameplate capacity of the three-train, 13.5- million-tonnes-per-annum (Mtpa) facility that will provide an export capability of 12 Mtpa of LNG, or approximately 1.7 billion cubic feet per day (Bcfd), and the full regasification capacity of 1.5 Bcfd. Each tolling agreement is for 4 Mtpa. The joint-venture agreement calls for affiliates of GDF SUEZ, Mitsubishi (through a related company jointly established with Nippon Yusen Kabushiki Kaisha) and Mitsui each to acquire 16.6% equity in the existing facilities and the liquefaction project. A Sempra Energy affiliate will retain 50.2%. The tolling capacity and the joint-venture agreements are subject to a final investment decision to proceed by each party, finalization of permit authorizations, securing financing commitments that are expected to occur by early 2014, as well as other customary conditions.

Sempra Energy elected James C. Yardley to the company's board of directors at the annual shareholders meeting. Yardley was a new nominee among 11 directors elected to the company's board. Yardley retired in 2012 after a 34-year career with El Paso Corp., then the nation's larger natural gas pipeline company and oil and gas producer. From 2006 to 2012, he was executive vice president of El Paso Corp. and president of its pipeline group. Yardley also served as president, CEO and a director of El Paso Pipeline GP Company LLC, the general partner of El Paso Pipeline Partners L.P., a master limited partnership that owns natural gas pipelines, storage and other midstream assets. Prior to 2006, he held various management positions at El Paso Corp., including president of its Southern Natural Gas Co. unit. Yardley served on the board of the Interstate Gas Association of America and was chairman in 2008. He currently serves on the board of the National Forest Foundation.

Sempra Energy reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, total revenue was $2,650 million against $2,383 million a year ago. Income before income taxes and equity earnings of certain unconsolidated subsidiaries was $352 million against $357 million a year ago. Earnings were $178 million or $0.72 per diluted share against $236 million or $0.97 per diluted share a year ago. Net cash provided by operating activities was $835 million against $699 million a year ago. Expenditures for property, plant and equipment was $531 million against $811 million a year ago. Earnings were lower at both California utilities, primarily due to higher operating expenses, including depreciation with no increase in authorized revenue due to the delay in its 2012 GRC decision. For 2013, the company would expect earnings to be at the low end of the current per-share guidance range of $4.30 to $4.80.