Sempra to Buy LNG Facility From Dynegy

Sempra Energy, the biggest U.S. distributor of natural gas, agreed to buy an import terminal planned for Louisiana from Dynegy Inc. for at least $20 million to help meet rising demand for the fuel.

San Diego-based Sempra will spend $700 million to complete the project and begin importing liquefied natural gas in 2007, the company said.

Sempra has been expanding its wholesale-energy and trading businesses as rivals such as Dynegy withdraw because of a slump in trading and insufficient cash.

Sempra shares rose 6 cents to $23.55 and Houston-based Dynegy rose 14 cents to $1.90, both on the New York Stock Exchange.