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Revealed by Jessica Casey,
Editor
LNG Trade,
Mexico Pacific has signed a 3rd long-term gross sales and buy settlement (SPA) with ExxonMobil LNG Asia Pacific (EMLAP) for a further 1.2 million tpy of LNG from Practice 3 of Mexico Pacific’s Saguaro Energia venture positioned on the west coast of Mexico.
The quantity originates from the choice below the separate LNG SPAs executed in January 2023, overlaying volumes from Trains 1 and a pair of. Underneath the Practice 3 LNG SPA, EMLAP will buy LNG on a free-on-board foundation over a 20-year time period. There may be additionally an possibility for an additional 1 million tpy from Practice 4.
“We’re happy to announce this extra long-term SPA with ExxonMobil, extending our much-valued partnership into Practice 3,” stated Ivan Van der Walt, CEO of Mexico Pacific. “Whereas we stay centered on initially taking remaining funding determination (FID) on Trains 1 and a pair of, this newest LNG SPA with ExxonMobil concludes the LNG gross sales required for a subsequent Practice 3 FID anticipated this yr. With key contracting and permits in place throughout the terminal and pipeline, we’re nicely positioned to sanction the venture, connecting Permian Basin fuel with the world’s largest LNG markets in Asia to supply dependable and cost-effective LNG to assist the vitality transition.”
“Bringing further North American LNG to world markets advances vitality safety and helps to decrease emissions in lots of nations with excessive vitality demand,” added Peter Clarke, ExxonMobil’s Head of International LNG and Senior Vice President. “Long run contracts play a necessary position in underpinning the investments that will likely be required to advance the vitality transition. We stay up for working with Mexico Pacific to proceed rising our portfolio and ship Permian pure fuel to world markets.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/18012024/mexico-pacific-completes-option-for-additional-lng-offtake-with-exxonmobil/
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