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    Mexico to Build LNG Export Hub in Veracruz

    September 30, 2022 - CE Noticias Financieras


      Mexico plans to build a liquefied natural gas (LNG) export hub at the port of Coatzacoalcos, in the eastern state of Veracruz. The hub will help serve European demand, said President López Obrador. The past week, during an official visit to Mexico City, López Obrador offered German President Frank-Walter Steinmeier to intensify cooperation with Germany regarding LNG.

      "This plant will guarantee natural gas. We already have the land and we are about to promote the participation of the private sector. It will require an investment between US$4 and US$5 billion," said the president.

      In April, López Obrador had previously raised the idea of an LNG plant in Coatzacoalcos, along other 2 plants in Salina Cruz, Oaxaca, and Topolobampo, Sinaloa. The President said that becoming more self-sufficient in the energy sector is crucial, and pointed to the importance of being able to export more gas to Asia, the Americas and Europe amid supply disruptions caused by the war in Ukraine.

      Mexico has already established agreements with international private energy companies, including Sempra Infrastructure, TC Energy and New Fortress Energy, to carry out the energy projects proposed by the President.

      Sempra Infrastructure is currently working on Costa Azul, a project located between Rosarito and Ensenada, Baja California. Initially, the goal of this project was to provide gas to the peninsula, but it was modified so that it would also receive gas by pipelines, liquefy it and then export this LNG through the Pacific Ocean to clients overseas.

      Moreover, CFE and Sempra have already signed agreements for the development of key energy infrastructure projects for Mexico, including the re-routing of the Guaymas-El Oro pipeline and the Vista Pacífico natural gas liquefaction project in Topolobampo. Additionally, they agreed to jointly explore the potential development of the gas terminal in Salina Cruz.

      In August, TC Energy inked a deal with CFE to build a US$4.5 billion gas pipeline connecting the port of Tuxpan with Coatzacoalcos, as well as the ports of Veracruz and Dos Bocas.

      With these agreements between private actors and the Mexican government, the authorities seek to provide a strategic advantage to Pemex and CFE.

      "These projects would enable CFE to potentially optimize the use of existing pipeline systems, provide additional sources of LNG supply for isolated markets in Mexico and continue to expand LNG supply to the global market," the state utility told Forbes.


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