JACKSON, Miss. (AP) — A California company says it plans to sell underground natural gas storage facilities in central Mississippi and southwest Alabama.
Sempra Energy of San Diego announced last week that it would sell its Mississippi Hub facility southeast of Jackson and its 91 percent share of Bay Gas Storage northeast of Mobile.
The company says it also plans to sell solar and wind electrical generating facilities nationwide.
Sempra says it will write down asset values by about $1.5 billion, but doesn't expect selling costs to exceed more than $10 million in cash.
Activist investors have been pressuring Sempra to break up the company.
Sempra owned natural gas utilities based in Mobile and Hattiesburg, but sold them to St. Louis-based Spire for $320 million in 2016, with Spire assuming $67 million in debt.
- California utility to sell Mississippi, Alabama gas storage
- Mississippi city selling gas system to private utility
- Electric utility seeks higher rates Mississippi customers
- Officer shoots suspect at Mississippi gas station
- Mississippi utility inks deal on troubled $7.5B power plant
- Rates to rise for 2 Mississippi electrical utilities
- Regulators seek more utility work for Mississippi companies
- Mississippi demands $100K from city utilities board members
- Judge will decide Mississippi's $1B lawsuit against utility
- Utility vehicle driver from Mississippi dies in North Dakota crash