The Southern Company (SO), PPL Corporation (PPL): This Week in Utilities, Biomass Buys and LNG Exports

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According to the agreements, each new partner will acquire a 16.6% stake, while Sempra will retain 50.2% majority ownership. In terms of export capacity, the new investors will take on 4 Mtpa, equivalent to around 5 billion cubic feet per day of regasification capacity.

Sempra Energy (NYSE:SRE) President Mark Snell called this news a “major step forward” for its export potential. The energy company has already received regulatory approval to export LNG to free-trade agreement counties, but its non-free-trade export application is still under review.

Pending final approvals, Sempra expects to break ground in 2014.

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The article This Week in Utilities: Biomass Buys and LNG Exports originally appeared on Fool.com and is written by Justin Loiseau.

Fool contributor Justin Loiseau has no position in any stocks mentioned. The Motley Fool recommends Exelon and The Southern Company (NYSE:SO).

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