Sempra Wins FERC OK for LNG Terminal

Sempra Energy, a California utility owner and energy trader, won final regulatory approval to build a $700-million liquefied natural gas terminal, the first in the continental U.S. in 25 years.

The depot near Hackberry, La., will be able to process 1.5 billion cubic feet of gas a day and is expected to go on line in 2007. San Diego-based Sempra, the largest U.S. gas distributor, agreed in February to buy the terminal from Dynegy Inc. for $20 million. The Federal Energy Regulatory Commission approved the project at a regular meeting in Washington.

Sempra rose 25 cents to $29.80 on the NYSE.