Shell and Mexico Pacific have signed a sales and purchase agreement (SPA) for Shell to offtake 2.6 Mt/year (3.5 bcm/y) of LNG from the first two trains of Mexico Pacific’s 14.1 Mt/year (19 bcm/y) anchor LNG export project (3 x 4.7 Mt/year) located in Puerto Libertad, Sonora, Mexico, which is expected to enter operations in 2026. Under the SPA, Shell will buy LNG on a free on-board basis over a term of 20 years. In June 2022, Mexico Pacific secured a key permit for the project from the Mexican government. The company could take the final investment decision (FID) in 2022, and construction would start subsequently.
Mexico has currently no LNG liquefaction capacity, but several export projects are currently under development. Sempra Energy is developing two liquefaction trains with a total capacity of 19.4 bcm/year on the site of the existing Energia Costa Azul regasification plant. In 2020, the company made a FID on the first phase (3.25 bcm/year), which is expected to be commissioned in 2024.
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