Regional LNG: Repsol YPF to build an LNG terminal in Mexico.
Wednesday, February 18 2004 - 02:56 PM WIB
The Mexican authorities have awarded Repsol YPF land for the construction of a regasification plant in Port L?zaro C?rdenas, on the Pacific coast of Mexico, the Spanish-Argentinean company said in a release issued Wednesday.
The L?zaro C?rdenas LNG (liquefied natural gas) terminal will be the first to be sited in West Mexico.
The L?zaro C?rdenas Integral Port Administration (API) granted Repsol YPF the land on which the terminal will be built for US$10.1 million. The plant will have an initial capacity of over 4 billion cubic metres (bcm) per annum, with a revamp potential of up to 10 bcm per annum. The initial investment is budgeted at around $350 million dollars and the facility is expected to go on stream in 2008.
Port L?zaro C?rdenas is one of Mexico?s largest industrial ports, and the only port on the Pacific Coast with access facilities to the national gas grid.(alex)