Sempra International has withdrawn from talks it had hoped would allow the company to participate in a $6.5 billion natural gas pipeline project in Peru.
In a brief statement issued Nov. 23, the subsidiary of San Diego-based Sempra Energy said negotiations on the Gasoducto Sur Peruano project ended without an agreement after the Peruvian government was unable to provide assurances that the concession would not be cancelled “due to alleged 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,” the company stated. It did not say what the alleged violations were or identify the seller or its affiliates.
Sempra International distributes energy in North and South America. Its subsidiaries develop, build and operate energy infrastructure and distribute energy in Chile, Mexico and Peru.
Sempra Energy is an energy services holding company whose 2015 revenues topped $10 billion. It employs more than 17,000 people and serves more than 32 million consumers around the world.
