{"slug":"sempra","name":"셈프라","name_en":"Sempra","ticker":"SRE","updated_at":"2026-09-11T22:25:33.760129+00:00","canonical":"https://valuechain.wiki/sempra","citable":"밸류체인 그래프 기준 셈프라의 직접 연결 기업은 4곳(관계 기준 공급 0·매출 3·투자 1)이고, 사슬을 2차까지 넓히면 7곳에 닿는다. 링크의 근거 출처는 11건이며 그중 1차공시가 4건이다 (valuechain.wiki, 2026-09-11 기준).","citable_en":"Per the valuechain.wiki graph, Sempra is directly linked to 4 companies (0 supply, 3 revenue, 1 investment relationships) and reaches 7 companies within two hops; the links are backed by 11 dated sources, 4 of them primary filings (as of 2026-09-11).","kicker":"북미 유틸리티·LNG","kicker_en":"North American utilities and LNG","lead":"셈프라는 캘리포니아와 텍사스의 규제 전력·가스 사업에서 주로 돈을 벌고, 장기 인수계약을 바탕으로 북미 LNG 수출 설비도 개발한다. 전력망 현대화와 LNG 액화 프로젝트에 자본을 투입하며, 대형 EPC 업체와 장비·건설 공급망에 비용을 지급한다.","lead_en":"Sempra earns primarily from regulated electric and gas utilities in California and Texas while developing North American LNG export facilities backed by long-term offtake contracts. It invests in grid modernization and LNG liquefaction projects, paying major EPC contractors and the associated equipment and construction supply chain.","categories":[{"key":"regulated-grid-utilities","ko":"규제 유틸리티·전력망 운영","en":"Regulated Utilities & Grid Operators","theme":"power-grid","theme_ko":"전력·그리드","theme_en":"Power & Grid","theme_kind":"chain","primary":true}],"segments":{"parts":[{"name":"셈프라 캘리포니아","note":"SDG&E와 SoCalGas의 전력·가스 규제 유틸리티"},{"name":"셈프라 텍사스 유틸리티","note":"Oncor Holdings와 Sharyland Holdings에 대한 지분법 투자"},{"name":"셈프라 인프라스트럭처","note":"LNG, 에너지 네트워크, 저탄소 인프라 사업"}],"total":"FY2025 총매출 137억200만달러(고객계약 매출 124억1,800만달러, SEC 10-K XBRL)","track":"C"},"segments_en":{"parts":[{"name":"Sempra California","note":"SDG&E and SoCalGas regulated electric and gas utilities"},{"name":"Sempra Texas Utilities","note":"Equity-method investments in Oncor Holdings and Sharyland Holdings"},{"name":"Sempra Infrastructure","note":"LNG, energy networks and low-carbon infrastructure"}],"total":"FY2025 total revenue of $13.702 billion (revenue from contracts with customers $12.418 billion, SEC 10-K XBRL)"},"returns_yearly":{"2021":7.4,"2022":20.3,"2023":-0.1,"2024":21.1,"2025":3.9,"2026":-3.5},"return_asof":"2026-09-04","value_chain":{"leading":[{"slug":"southwest-airlines","name":"사우스웨스트항공","name_en":"Southwest Airlines","tier":2,"returns_yearly":{"2021":-8.1,"2022":-21.4,"2023":-11.8,"2024":19.1,"2025":25.6,"2026":2.2}},{"slug":"atmos-energy","name":"앳모스 에너지","name_en":"Atmos Energy Corporation","tier":2,"returns_yearly":{"2021":12.7,"2022":9.6,"2023":6.2,"2024":23.4,"2025":23.1,"2026":-1.9}},{"slug":"sinopec","name":"시노펙(중국석유화공)","name_en":"Sinopec Corp","tier":2,"returns_yearly":{"2021":20,"2022":19.4,"2023":4,"2024":13,"2025":34,"2026":-10.7}},{"slug":"valero-energy","name":"발레로 에너지","name_en":"Valero Energy Corporation","tier":1,"returns_yearly":{"2021":40.3,"2022":75,"2023":5.9,"2024":-3,"2025":37,"2026":170.4}},{"slug":"conocophillips","name":"코노코필립스","name_en":"ConocoPhillips","tier":1,"returns_yearly":{"2021":86.6,"2022":71.7,"2023":2,"2024":-12.2,"2025":-2.3,"2026":46.4}},{"slug":"eqt","name":"EQT 코퍼레이션","name_en":"EQT Corporation","tier":1,"returns_yearly":{"2021":71.6,"2022":57.6,"2023":16.2,"2024":21.4,"2025":17.6,"2026":-0.6}}],"benefiting":[{"slug":"kkr-co","name":"KKR & Co.","name_en":"KKR & Co.","tier":1,"returns_yearly":{"2021":85.8,"2022":-37,"2023":80.5,"2024":79.6,"2025":-13.3,"2026":-15}}],"analysis":"북미 유틸리티·LNG 기업. 2026년 -3.5%다. 수요단(평균 +88.9%)이 본주(-3.5%)를 앞서 있어 고객 쪽 움직임이 먼저 가는 구도다. 연결 노드 중 가장 앞선 곳은 발레로 에너지(+131.1%), 가장 처진 곳은 코노코필립스(+46.6%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"Sempra operates across North American utilities and LNG. It is -3.5% in 2026. The demand side (avg +88.9%) leads the stock (-3.5%), so customer moves come first here. Among connected nodes the furthest ahead is Valero Energy Corporation (+131.1%) and the furthest behind is ConocoPhillips (+46.6%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It invests in grid modernization and LNG liquefaction projects, paying major EPC contractors and the associated equipment and construction supply chain.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investor","counterparty":"KKR & Co.","counterparty_slug":"kkr-co","confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2025-09-22","basis":"KKR 계열사·공동투자자 대상 지분 매각 기준가격","value":9990000000,"period":"Sempra Infrastructure Partners 45% equity sale agreement","basis_en":"Aggregate base purchase price for the equity sale to KKR affiliates and a co-investor","qualifier":"pending_closing"},"note":"셈프라는 KKR 계열사와 공동투자자에게 Sempra Infrastructure Partners 지분 45%와 일반사원 지분 전부를 기준가격 99억9000만달러에 매각하기로 계약했다. 2026년 8월 6일 기준 거래는 아직 종결 전이며 2026년 3분기 종결 예정으로 공시됐다.","note_en":"Sempra agreed to sell a 45% interest and all general-partner interests in Sempra Infrastructure Partners to KKR affiliates and a co-investor for a $9.99 billion base price. As of August 6, 2026, the transaction remained pending and was expected to close in the third quarter of 2026.","sources":[{"stance":"confirms","publisher":"에너지 애널리틱스 인스티튜트","publisher_en":"Energy Analytics Institute","kind":"news","lang":"en","published_at":"2026-08-06","url":"https://energy-analytics-institute.org/2026/08/06/sempra-infrastructure-says-45-equity-divestment-to-kkr-on-track-to-close-in-3q26/","title":"셈프라 인프라스트럭처, KKR 대상 45% 지분 매각이 2026년 3분기 종결 일정대로 진행 중","title_en":"Sempra Infrastructure Says 45% Equity Divestment to KKR on Track to Close in 3Q:26","excerpt":"KKR 대상 45% 지분 매각은 2026년 3분기 종결을 목표로 진행 중이다.","excerpt_en":"The 45% equity sale to KKR remained on track for a third-quarter 2026 close."},{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-05-07","url":"https://www.sec.gov/Archives/edgar/data/1032208/000103220826000030/sre-20260331.htm","title":"셈프라 2026년 1분기 Form 10-Q","title_en":"Sempra Form 10-Q for the Quarter Ended March 31, 2026","excerpt":"셈프라는 KKR Partners에 지분 45%를 99억9000만달러에 매각하는 계약을 공시했다.","excerpt_en":"Sempra agreed to sell a 45% equity interest for $9.99 billion."},{"stance":"confirms","publisher":"매일경제","publisher_en":"Maeil Business Newspaper","kind":"news","lang":"ko","published_at":"2026-02-27","url":"https://www.mk.co.kr/news/stock/11973802","title":"셈프라 에너지, 2025년 조정 EPS 4.69달러·650억달러 5개년 투자 계획 발표","title_en":"Sempra Energy Reports 2025 Adjusted EPS of $4.69 and a $65 Billion Five-Year Investment Plan","excerpt":"Sempra Infrastructure Partners의 45% 지분을 KKR 계열사에 100억 달러에 매각하는 전략적 거래를 체결했다.","excerpt_en":"Sempra entered into a strategic transaction to sell a 45% stake in Sempra Infrastructure Partners to KKR affiliates for $10 billion."}]},{"direction":"cost","counterparty":"Bechtel Energy Inc.","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2026-02-26","basis":"포트아서 LNG 2단계 Bechtel EPC 계약 추정가","value":9200000000,"period":"Port Arthur LNG Phase 2 EPC contract","basis_en":"Estimated price of the Bechtel EPC contract for Port Arthur LNG Phase 2","qualifier":"estimate"},"note":"Bechtel은 포트아서 LNG 1·2단계의 EPC 시공사다. 셈프라가 공시한 2단계 EPC 계약 추정가는 92억달러이며 실제 금액은 달라질 수 있다.","note_en":"Bechtel is the EPC contractor for both phases of Port Arthur LNG. Sempra estimates the Phase 2 EPC contract at $9.2 billion, while cautioning that the actual cost may differ.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1032208/000103220826000010/sre-20251231.htm","title":"셈프라 2025 회계연도 Form 10-K","title_en":"Sempra 2025 Form 10-K","excerpt":"포트아서 LNG 2단계 Bechtel EPC 계약의 추정가는 약 92억달러다.","excerpt_en":"The EPC contract has an estimated price of approximately $9.2 billion."},{"stance":"confirms","publisher":"일본 에너지·금속광물자원기구","publisher_en":"Japan Organization for Metals and Energy Security (JOGMEC)","kind":"research","lang":"en","published_at":"2025-02-19","url":"https://oilgas-info.jogmec.go.jp/_res/projects/default_project/_page_/001/010/410/4_8_en_2025_sempra_energy.pdf","title":"주요 기업별 LNG 사업 동향: 셈프라 에너지","title_en":"Selected Companies' LNG Related Activities: Sempra Energy","excerpt":"JOGMEC는 Bechtel이 포트아서 LNG 1·2단계의 EPC 시공사로 선정됐다고 정리했다.","excerpt_en":"Bechtel is selected as the EPC contractor for both Phase 1 and Phase 2."}]},{"direction":"cost","counterparty":"TP Oil & Gas Mexico","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2026-02-26","basis":"ECA LNG 1단계 TP Oil & Gas Mexico EPC 계약 추정가","value":1600000000,"period":"ECA LNG Phase 1 EPC contract","basis_en":"Estimated price of the TP Oil & Gas Mexico EPC contract for ECA LNG Phase 1","qualifier":"estimate"},"note":"Technip Energies 계열사 TP Oil & Gas Mexico는 멕시코 ECA LNG 1단계의 EPC 시공사다. 셈프라가 공시한 계약 추정가는 16억달러다.","note_en":"Technip Energies affiliate TP Oil & Gas Mexico is the EPC contractor for ECA LNG Phase 1 in Mexico. Sempra estimates the contract price at $1.6 billion.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1032208/000103220826000010/sre-20251231.htm","title":"셈프라 2025 회계연도 Form 10-K","title_en":"Sempra 2025 Form 10-K","excerpt":"ECA LNG 1단계 EPC 계약의 총 추정가는 약 16억달러다.","excerpt_en":"We estimate the total price of the EPC contract at approximately $1.6 billion."},{"stance":"confirms","publisher":"TechnipFMC","publisher_en":"TechnipFMC","kind":"ir","lang":"en","published_at":"2020-11-17","url":"https://www.technipfmc.com/en/investors/financial-news-releases/press-release/technipfmc-receives-notice-to-proceed-for-epc-contract-for-sempra-lng-s-and-ienova-s-energia-costa-azul-lng-facility/","title":"TechnipFMC, 셈프라 LNG·IEnova ECA LNG 설비 EPC 계약 착수 통보 수령","title_en":"TechnipFMC Receives Notice to Proceed for EPC Contract for Sempra LNG's and IEnova's Energía Costa Azul LNG Facility","excerpt":"TechnipFMC는 셈프라 LNG와 IEnova로부터 ECA 액화설비의 대형 EPC 계약 착수 통보를 받았다.","excerpt_en":"TechnipFMC received a Notice to Proceed for a major EPC contract."}]},{"direction":"revenue","counterparty":"코노코필립스","counterparty_slug":"conocophillips","confidence":"high","metric":{"type":"count","unit":"Mtpa","as_of":"2025-08-21","basis":"콘코필립스의 포트아서 LNG 2단계 연간 인수 물량","value":4,"period":"Port Arthur LNG Phase 2 20-year SPA","basis_en":"ConocoPhillips annual offtake volume from Port Arthur LNG Phase 2","qualifier":null},"note":"콘코필립스는 포트아서 LNG 2단계에서 연간 400만톤을 20년간 인수하는 핵심 고객이다. 1단계에서도 연간 500만톤 인수와 30% 지분 참여 관계가 이어진다.","note_en":"ConocoPhillips is a cornerstone customer for Port Arthur LNG Phase 2 under a 20-year agreement covering 4 Mtpa. The relationship also includes 5 Mtpa of Phase 1 offtake and a 30% Phase 1 equity interest.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-09-22","url":"https://www.sec.gov/Archives/edgar/data/1032208/000103220825000055/sempra-20250922.htm","title":"셈프라 Form 8-K, 2025년 9월 22일","title_en":"Sempra Form 8-K, September 22, 2025","excerpt":"콘코필립스와의 확정적 20년 LNG 인수계약은 최종투자결정과 함께 효력이 발생했다.","excerpt_en":"Definitive 20-year agreements with ConocoPhillips became effective upon reaching FID."},{"stance":"confirms","publisher":"셈프라","publisher_en":"Sempra","kind":"ir","lang":"en","published_at":"2025-08-21","url":"https://www.sempra.com/newsroom/press-releases/sempra-and-conocophillips-extend-partnership-offtake-agreement-port-arthur","title":"셈프라와 콘코필립스, 포트아서 LNG 2단계 인수계약으로 협력 확대","title_en":"Sempra and ConocoPhillips Extend Partnership with Offtake Agreement for Port Arthur LNG Phase 2","excerpt":"양사는 포트아서 LNG 2단계에서 연간 400만톤을 공급하는 20년 확정 매매계약을 체결했다.","excerpt_en":"The companies signed a definitive 20-year SPA for 4 Mtpa of LNG."}]},{"direction":"revenue","counterparty":"EQT Corporation","counterparty_slug":"eqt","confidence":"high","metric":{"type":"count","unit":"Mtpa","as_of":"2025-08-27","basis":"EQT의 포트아서 LNG 2단계 연간 인수 물량","value":2,"period":"Port Arthur LNG Phase 2 20-year SPA","basis_en":"EQT annual offtake volume from Port Arthur LNG Phase 2","qualifier":null},"note":"EQT는 포트아서 LNG 2단계에서 연간 200만톤을 20년간 인수한다. 가격은 헨리허브에 연동되고 인도 조건은 본선인도 방식이다.","note_en":"EQT will purchase 2 Mtpa from Port Arthur LNG Phase 2 for 20 years. The free-on-board contract is indexed to Henry Hub.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-09-22","url":"https://www.sec.gov/Archives/edgar/data/1032208/000103220825000055/sempra-20250922.htm","title":"셈프라 Form 8-K, 2025년 9월 22일","title_en":"Sempra Form 8-K, September 22, 2025","excerpt":"EQT LNG Trading과의 확정적 20년 LNG 인수계약은 최종투자결정과 함께 효력이 발생했다.","excerpt_en":"The definitive 20-year agreement with EQT LNG Trading became effective."},{"stance":"confirms","publisher":"셈프라 인프라스트럭처","publisher_en":"Sempra Infrastructure","kind":"ir","lang":"en","published_at":"2025-08-27","url":"https://semprainfrastructure.com/news-and-events/news-releases/sempra-infrastructure-and-eqt-announce-long-term-lng-supply-agreement-from-port-arthur-lng-phase-2/","title":"셈프라 인프라스트럭처와 EQT, 포트아서 LNG 2단계 장기 공급계약 발표","title_en":"Sempra Infrastructure and EQT Announce Long-Term LNG Supply Agreement from Port Arthur LNG Phase 2","excerpt":"EQT는 헨리허브 연동 가격으로 연간 200만톤의 LNG를 20년간 구매한다.","excerpt_en":"EQT will purchase 2 Mtpa of LNG for 20 years at a Henry Hub-indexed price."}]},{"direction":"revenue","counterparty":"발레로 에너지","counterparty_slug":"valero-energy","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-25","basis":"셈프라 계열 IEnova 터미널 사용 대가","value":null,"period":"ongoing as of FY2025","basis_en":"Payments for use of Sempra affiliate IEnova terminals","qualifier":"confirmed_no_disclosed_value"},"note":"셈프라는 멕시코 계열사 IEnova가 운영하는 베라크루스와 내륙 터미널 3곳을 장기 계약에 따라 발레로가 독점 사용하도록 제공하며, 발레로 공시는 이 계약을 금융리스로 처리하지만 상대별 서비스 지급액은 따로 공개하지 않는다.","note_en":"Sempra provides Valero with exclusive use of three Veracruz and inland terminals operated by its Mexican affiliate IEnova under long-term agreements, which Valero accounts for as finance leases without separately disclosing the service payments to Sempra.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","title":"발레로 에너지 2025 회계연도 10-K","title_en":"Valero Energy Corporation FY2025 Form 10-K","excerpt":"발레로는 Central Mexico Terminals와 터미널 계약을 맺고 있다.","excerpt_en":"We have terminaling agreements with Central Mexico Terminals."},{"stance":"confirms","publisher":"셈프라","publisher_en":"Sempra","kind":"ir","lang":"en","published_at":"2017-08-03","url":"https://www.sempra.com/newsroom/press-releases/sempra-energys-ienova-unit-valero-sign-contracts-liquid-fuels-projects","title":"셈프라 IEnova와 발레로, 멕시코 액체연료 사업 계약 체결","title_en":"Sempra Energy's IEnova Unit, Valero Sign Contracts for Liquid Fuels Projects in Mexico","excerpt":"IEnova는 발레로 자회사와 베라크루스 해상 터미널 및 내륙 저장시설 장기계약을 체결했다.","excerpt_en":"IEnova signed long-term contracts with a subsidiary of Valero Energy Corp."}]}]}