New Fortress Energy and Mexican Government go for liquefied natural gas project in Lakach

US-based New Fortress Energy and the Mexican government will sign an agreement next week to develop a liquefied natural gas (LNG) project in the Lakach offshore gas field.

According to Christopher Giunta, CFO of New Fortress Energy, the LNG facility is expected to complete construction in April 2024, to be located in the country during the second quarter of that year.

At the beginning of July it was announced that Petróleos Mexicanos (Pemex) would reactivate the Lakach project, after having been suspended due to the lack of profitability of the state-owned company, together with the North American company with an investment of 1.5 billion dollars.

In this sense, the director of the oil company, Octavio Romero Oropeza, explained that the reactivation of the project, which was stopped for six years, will guarantee the country's energy self-sufficiency.

Read more: CNH approves Pemex's plan to develop Lakach after modifications

Alliance to put an end to blackouts

Just last month the Federal Electricity Commission (CFE) also announced a strategic alliance with New Fortress Energy, with the objective of putting an end to the constant blackouts that have been affecting Baja California Sur since 2019.

Manuel Bartlett Díaz, CFE's CEO, announced the purchase of part of the Aumanet Turbogas Power Plant, for which 180 million dollars were paid, according to President Andrés Manuel López Obrador.

AMLO assured that the acquisition of the facilities will guarantee the supply of electricity for the region for the next 8 years.

The CFE highlighted that it will reduce the carbon footprint by more than 400,000 tons of CO2 per year, in addition to generating thousands of jobs and estimated income of more than 4 billion dollars for the company.