ConocoPhillips Signs 20-Year LNG Supply Deals with Mexico Pacific
(Reuters) — ConocoPhillips has signed 20-year deals to receive a collective 2.2 million tons of LNG a year from Mexico Pacific's Saguaro export facility, the U.S. oil and gas producer said on Thursday.
The deals, which are subject to the project gaining a positive final investment decision, would grant Conoco access to LNG from Mexico's Pacific coast, the company said in a release.
Mexico Pacific last month announced a similar deal to supply 1 million metric tons of LNG a year to China's Zhejiang Energy.
The Saguaro facility will process low-cost gas from the Permian Basin bound for the Asian market through a significantly shorter shipping route avoiding the Panama Canal.
Mexico is expected to soon inaugurate the first of nine planned onshore and floating LNG production facilities both on the Gulf and Pacific coasts, which will process U.S. natural gas imported through a pipeline network between the two countries.
Related News
Related News
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Kinder Morgan Declares Force Majeure on West Texas Gas Pipeline After Fire
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Pipeline Hydro Test Pressure Determination
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Japan Looks at Developing Domestic Pipelines Sector
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
Comments