The government of mexico plans to build a liquefied natural gas export center (LNG) for a value between 4 billion and 5 billion dollars in the Gulf of Mexico which will help meet European demand, said the President Andres Manuel Lopez Obrador.
The LNG installation planned in the port of coatzacoalcosin Veracruz, would ship gas to EuropeLopez Obrador said.
“Now that gas is needed in Europe, there is this possibility,” the president said.
“This plant is going to have guaranteed natural gas, we already have the land and we are about to promote the participation of private initiative, it will be an investment of 4.5 billion dollars, he added. .
López Obrador previously floated the idea of an LNG plant in Coatzacoalcos.
The leader made these statements a week after he offered meIntensify cooperation with Germany on liquefied gasaccording to the german president Frank-Walter Steinmeier.
Mexico does not yet export LNG for commercial purposesdespite being one of the major crude oil exporters in the region.
In August, the Canadian firm TC Energy signed an agreement with the Federal Electricity Commission (CFE) to build a gas pipeline $4.5 billion which will link the port of tuxedo with Coatzacoalcos and the ports of Veracruz and Dos Bocas.
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