US-based gas utilities holding company Sempra Energy has agreed to sell its non-utility natural gas storage facilities to an affiliate of ArcLight Capital Partners for a total consideration of US$332m. The assets included in the transaction have a total operating capacity of 42.7 bcf (1.2 bcm): the 22.3 bcf (630 mcm) Mississippi Hub storage facility in Simpson County, Mississippi, and the 20.4 bcf (576 mcm) Bay Gas storage facility in Southwest Alabama.
In December 2018, Sempra Energy completed the sale of a renewable energy portfolio to the electricity and gas provider Consolidated Edison (Con Edison) for a total consideration of approximately US$1.6bn in cash, including several operational solar power plants along with solar and battery storage development projects representing 980 MWac of installed capacity.
The company has undertaken a comprehensive strategic review of its businesses and asset portfolio and is implementing a divestment programme including its entire portfolio of US wind and solar assets, as well as certain midstream assets.