The announcement was made by President Andrés Manuel López Obrador and will involve an investment of 14,000 million dollars from the firm.
The Mexican president, Andrés Manuel López Obrador, announced that the US company Mexico Pacific Limited will invest some 14,000 million dollars for the construction of a gas pipeline and a liquefaction plant in the state of Sonora, in the northwest of the country.
The president made the announcement, which he described as “good news”through social networks, after meeting with representatives of the company on Tuesday, on the same afternoon that he met with US President Joe Biden’s envoy, Elizabeth Sherwood-Randall, at the National Palace.
In his message, López Obrador identified the firm as Pacific Limited, but the company later clarified to Reuters that the company’s full name is Mexico Pacific Limited.
On its website, the company lists as its “major project” the 14.1 million tonne per year (MTPA) liquefied natural gas (LNG) export facility.
«It is strategically located on the west coast of Mexico, in Puerto Libertad, Sonora. We incorporate innovative design and technology choices that align with the world‘s environmental goals, making the right choice today for a better tomorrow.”
“One of the main exporters”
During the day, the Secretary of Foreign Relations of Mexico, Marcelo Ebrard, gave statements to the press and pointed out that the firm is considering a considerable investment for liquefied gas “towards the Pacific, because the main market is in Asia.”
“Mexico is going to convert, thanks to the President’s activism in this matterin one of the main exporting countries of liquefied gas in the next two and a half years according to the investments that are being agreed, “emphasized the chancellor, quoted by Expansión.
According to a note from the US Department of Energy, on December 14, 2018, this institution issued an order authorizing Mexico Pacific Limited to export natural gas of US origin via pipeline to Mexico for liquefaction and re-export, in the form of LNG, to countries that do not have a free trade agreement with the US
The firm, the text says, “is authorized to export LNG up to the equivalent of 621,000 million cubic feet per year of natural gas to any country” outside of any treaty with the US.