Mexico Pacific Limited Finalizes FEED Contract
HOUSTON, March 9, 2020 /PRNewswire/ -- Mexico Pacific Limited LLC (MPL), a North American LNG export project based on the West Coast of Mexico, announced today that it has awarded a Front End Engineering Design (FEED) contract to Technip USA representing one of the final milestones to moving the project into construction and operation.
Upon its completion, MPL will be the leading West Coast LNG export facility in North America, offering partners in Asia lower cost, geographic diversity and supply chain resiliency. The combination of the shorter shipping distance to Asia from its west coast location and its access to low-cost US gas allows the project to deliver some of the lowest landed cost LNG into Asia.
Douglas Shanda, President and Chief Executive Officer of MPL said, "With major permits in hand and the FEED award completed, MPL is on track to take FID and establish a world-class North American LNG export facility on the West Coast of Mexico. With this unique project, we will address global energy needs while providing substantial cost advantages for our partners. We look forward to continuing our momentum as we work toward taking FID in early 2021 and bringing the facility into service in 2024."
"We are excited to take this important step with our partners as MPL continues on its path to becoming the leading west-coast provider of US LNG," said Josh Loftus, Chief Development Officer of MPL. "We look forward to strengthening our relationships with all current and future global partners as we become a top supplier in the growing LNG market."
About Mexico Pacific Limited LLC
MPL is a North American LNG project located on the West Coast of Mexico with substantial cost and logistical advantages achieved by connecting the prolific Permian gas basin in the United States to Asian markets. MPL's facility will be constructed by a world-class EPC contractor using proven equipment supplied by Baker Hughes. MPL will build its 12 mtpa facility on a 1,100-acre site it owns in Puerto Libertad in Sonora, Mexico, roughly 125 miles south of the Arizona border. MPL is controlled by AVAIO Capital. More information can be found at www.mexicopacificlimited.com.
About AVAIO Capital
AVAIO Capital is a build-to-core infrastructure investment firm led by professionals from investment, development, engineering, construction, and operating backgrounds. In aggregate, the team has completed more than $4 billion of equity transactions and over $50 billion of infrastructure development and construction projects across the water, transportation, digital and energy sectors. AVAIO's makes equity investments in the creation and redevelopment of infrastructure assets throughout North America and Europe. Entities affiliated with AVAIO Capital are the majority and controlling investors in MPL. More information can be found at www.avaiocapital.com.
SOURCE Mexico Pacific Limited