Sempra Infrastructure entered into a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to cooperate on opportunities to advance the energy transition, the companies announced Feb. 2.
This partnership between Sempra and JBIC is intended to help the companies meet the objectives of a newly implemented memorandum of cooperation between the U.S. Department of Energy and Japan's Ministry of Economy, Trade and Industry in the field of carbon capture, storage, conversion and recycling, and CO2 removal.
Through the MOU, Sempra Infrastructure and JBIC aim to further project structuring to improve the global energy supply chain through LNG, hydrogen and other decarbonization efforts in both the U.S. and Japan.
The MOU is a preliminary, non-binding arrangement, and the development of any project in connection with the MOU is contingent upon completion of the required commercial agreements, securing all necessary permits, obtaining financing and reaching a final investment decision, among other factors and considerations.
Recommended Reading
As ONEOK Digests Magellan, Sets Stage for More NGL Growth in 2024
2024-02-28 - ONEOK is continuing the integration of its newly acquired Magellan assets in 2024 as the company keeps an eye out for M&A opportunities and awaits regulatory approvals for certain projects.
ONEOK CEO: ‘Huge Competitive Advantage’ to Upping Permian NGL Capacity
2024-03-27 - ONEOK is getting deeper into refined products and adding new crude pipelines through an $18.8 billion acquisition of Magellan Midstream. But the Tulsa company aims to capitalize on NGL output growth with expansion projects in the Permian and Rockies.
Pembina Cleared to Buy Enbridge's Pipeline, NGL JV Interests for $2.2B
2024-03-19 - Pembina Pipeline received a no-action letter from the Canadian Competition Bureau, meaning that the government will not challenge the company’s acquisition of Enbridge’s interest in a joint venture with the Alliance Pipeline and Aux Sable NGL fractionation facilities.
Enterprise Buys Assets from Occidental’s Western Midstream
2024-02-22 - Enterprise bought Western’s 20% interest in Whitethorn and Western’s 25% interest in two NGL fractionators located in Mont Belvieu, Texas.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
2024-03-19 - Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.