Mexico Pacific Limited will sell China’s Zhejiang Energy liquefied natural gas (LNG) from an export plant in northwestern Mexico, according to an agreement between the companies disclosed on Wednesday.
Zhejiang Energy will buy from the Mexican company one million metric tons per year of LNG from the Saguaro Energía facility, in Puerto Libertad, in the state of Sonora, for a period of 20 years through a free shipping model.
“We are delighted to deepen our supply relationship with Asian end-users through this long-term SPA with Zhejiang Energy.“, said ivan van der waltexecutive director of Mexico Pacificit’s a statement.
According to the executive, the Chinese company is the only gas distributor in Zhejiang province, one of the largest local economies in the Asian giant.
Zhejiang Provincial Power Group deputy general manager Xiqiang Chai highlighted the deal as a way to diversify the power supply portfolio and strengthen the natural gas industry in that region of China, according to the statement.
In accordance with Mexico Pacificthe 14.1 million metric ton per year (mtpa) plant, Saguaro Energía, is the LNG development project “more advanced” on the west coast of North America.
Source: Gestion
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