Mexico readies its first LNG export terminal
The east coast of North America is increasingly covered with gas export facilities, with Europe taking ever more cargoes in lieu of Russian sources of energy.
The latest to enter the mix is Mexico, whose president, Andres Manuel Lopez Obrador, announced plans yesterday to develop a facility costing up to $5bn in the port of Coatzacoalcos, to the south of the country on the Gulf of Mexico.
The facility is being built with European custom in demand with Germany reportedly keen to take LNG from Mexico, a country that has yet to start exporting the gas.
Last month, Canadian firm TC Energy signed with Mexican state power utility Comision Federal de Electricidad (CFE) to build a $4.5bn gas pipeline connecting the port of Tuxpan with Coatzacoalcos, and the ports of Veracruz and Dos Bocas.