Fourth-quarter 2011 earnings at Sempra LNG jumped from $18 million to $24 million year-on-year as the terminal operator continued to benefit from cargo diversions.
Full-year earnings grew to $99 million from $68 million.
Sempra, which runs the Cameron LNG terminal in the US and Mexico’s Energia Costa Azul, said the improved LNG profits were a result of “marketing activities and additional revenues from contracted cargoes that were not delivered”.
The BP-led Tangguh LNG project in Indonesia spent the year diverting cargoes dedicated to Mexico to more lucrative Asian markets, triggering penalty payments under a deal with Sempra.
