New Rules for Natgas

How Sempra navigates rising energy nationalism

In 2006, Donald Felsinger, CEO of Sempra energy, based in San Diego, took charge of a volatile company tainted by the California energy scandal, which threatened to bankrupt the $15.5 billion firm. Felsinger settled lawsuits, shed holdings in coal and expanded its natural-gas business globally. Now, he tells TIME, the volatility has moved south.

Sempra dropped its stakes in Argentina, and there's been trouble in Bolivia and Peru.

There's a lot of distrust in South American countries that their natural resources won't be accrued for the people living there. We saw that firsthand in Bolivia. We had been trying to convince...

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