Sempra Infrastructure, a subsidiary of Sempra (SRE), has unveiled a significant memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to jointly advance initiatives driving the energy transition. The collaboration aims to bolster project structuring, particularly in liquefied natural gas (LNG), hydrogen, and other decarbonization endeavors, spanning both the United States and Japan.
Justin Bird, CEO of Sempra Infrastructure, expressed enthusiasm about the partnership, stating, “Sempra Infrastructure is thrilled to expand its collaboration with JBIC as we look forward to advancing projects that lower the carbon intensity of our energy delivery assets in North America.” Bird emphasized the company’s dedication to developing energy infrastructure that provides access to safe, secure, and affordable energy globally.
The Sempra family of companies has a longstanding history of partnering with Japanese counterparts, dating back half a century. Notably, recent collaborations include Sempra Infrastructure’s involvement in the Cameron LNG facility and a strategic partnership with a Japanese consortium focused on enhancing the energy supply chain to support decarbonization efforts through e-natural gas as part of the ReaCH4 Project. Additionally, Sempra is progressing with the Hackberry Carbon Sequestration Project, with participation anticipated from two Japanese companies, strategically located near the Cameron LNG facility.
The MOU aligns with existing efforts between the U.S. Department of Energy and Japan’s Ministry of Economy, Trade and Industry, which are implementing a Memorandum of Cooperation (MOC) in the carbon capture, storage, conversion, and recycling fields. By collaborating with JBIC, Sempra Infrastructure aims to support its Japanese partners in achieving the objectives outlined in the MOC, furthering joint efforts to advance decarbonization.
As Japan’s policy-driven financial institution, JBIC is committed to fostering business opportunities for Japanese companies and ensuring a stable energy supply. However, it’s important to note that the MOU represents a preliminary, non-binding arrangement. The development of any project associated with the MOU is contingent upon various factors, including securing commercial agreements, permits, financing, and reaching a final investment decision.