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Sempra steps back from $6.5 billion project in Peru

Staff Writer |
Sempra International, a subsidiary of Sempra Energy, issued a statement about its possible participation in the approximately $6.5 billion Gasoducto Sur Peruano (GSP) natural gas pipeline project under development in Southern Peru.

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"Negotiations have terminated without an agreement. Despite significant efforts, the Peruvian government expressed its inability to provide necessary assurances that the concession would not be cancelled due to alleged legal violations by the seller or its affiliates.

"As a consequence, a fundamental condition that was required for us to consider entering into final and binding agreement was not satisfied."

Sempra International distributes energy and operates in competitive markets in North and South America.

Its subsidiaries develop, build and operate energy infrastructure assets and distribute energy resources in Mexico, Chile and Peru.

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