Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Mexico Pacific Limited
Global investment

Mexico Pacific begins construction of LNG plant in Mexico

19.08.2023
2 min read

Mexico Pacific plans to produce 14.1 million tonnes of liquefied gas in Mexico

Mexico Pacific is investing US$14 billion to build a liquefied natural gas plant in Mexico. The project also includes the construction of a gas pipeline from the US.
The LNG plant will be located on the Pacific coast. It will have three lines with a total capacity of 14.1 million tonnes of liquefied gas per year. There will be a fuel storage facility and a jetty on the site. The plant’s location is determined by the fact that Mexico Pacific’s main importers are Asian countries. This will allow the company to supply gas to the region via a short route without transporting it through the Panama Canal. Mexico Pacific has already signed contracts with Asian customers to export LNG, so the company is in a hurry to start production as soon as possible.
Construction has begun after partners agreed all formalities regarding the level of investment and the work progress. According to agreements, all three lines will be operational in 2026. In total, the process from project review to implementation took 18 months. Raw materials for the Mexico plant will be sourced from the US.Mexico Pacific

Mexico Pacific partners

In April 2023, Guangzhou, which supplies gas and electricity to a province in China, signed a contract with Mexico Pacific to purchase liquefied natural gas. Under the agreement, the producer will supply 2 million tonnes annually for 20 years. In addition to Guangzhou, the US company has signed contracts with other major Asian customers.
The producer notes that it has not yet entered emerging markets but plans to do so in the future. Looking at the global situation, Mexico Pacific has seen increased demand for LNG from European importers. This, in turn, is prompting American producers to increase production and look for ways to supply new customers without losing old ones in Asia.
Mexico Pacific has also signed a 20-year contract with Shell Corporation. The latter will purchase 2.6 million tonnes of LNG per year. Supplies will come from a new plant in Mexico. The raw material for the plant is extracted from a mine in Texas.
In July 2022, for the first time in the history of the LNG industry, the US became the leading exporter of LNG to Europe. The main factor was the sanctions imposed on the region’s largest fossil fuel supplier as a result of its unleashing a geopolitical conflict.

Tags: Global investment
0
Previous Post Bitdeer has floated on the Nasdaq exchange Next Post Commitments of Traders indicator as a source of insight into the overall market picture

You Might Also Like

Hungary plans to increase electricity storage
Global investment
Hungary plans to increase electricity storage by 2030
25.10.2022
Maps.me-1
Global investment
Maps.me app received a $50 million investment
08.10.2021
investment in economy
Global investment
Large corporations increase investment in the Indonesian economy
06.08.2022
Bank of America shares
Global investment
Warren Buffett Holding bought Bank of America shares
01.04.2021
Chinese investments in Russia
Global investment
Chinese investment in Russia: problems of investing in the economy
25.07.2020
World Financial Institutions
Global investment
World financial institutions are investing in Shanghai
02.12.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics