Efficient Financing & Incremental Investment Opportunities
CAMERON LNG PHASE 1 FINANCIAL UPDATE
1.
$1,200
$1,000
$800
Cash Distributions to Sempra ($M)¹
Strong earnings visibility with annual $400M -
$450M full run-rate earnings for full contract period
20-year tolling agreements with investment-grade
counterparties
$600
$400
$200
$0
2020
2025
2030
2035
2039
Predictable cash flows based on a fixed margin
No commodity price or volumetric risk
Strong credit profile
A3 | A | A- rating from Moody's, S&P and Fitch,
respectively
T+D infrastructure provides high-quality earnings and cash flows without
commodity price or volume risk
Represents cash distributions to Sempra, after debt service. Sempra's income from the Cameron LNG JV is taxed at the Sempra level, and cash taxes are not deducted from the above amounts. 2020 actual includes $753M related to
the Cameron LNG project loans guaranteed by Sempra. 2021 estimate includes distribution of Sempra's share of Senior Debt Service Reserve Account.
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