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Mexico inaugurates first liquefied natural gas terminal
Mexico's president Vicente Fox inaugurating Altamira's natural gas terminal
MarketWatch
MEXICO CITY
Petroleumworld.com 10 27 06
Mexican President Vicente Fox inaugurated Wednesday Mexico's first liquefied natural gas terminal located at the Gulf coast port of Altamira.
The terminal - a joint venture of Shell, France's Total, and Mitsui & Co. of Japan - will supply power stations in the region with up to 500 million cubic feet a day of natural gas, the state-owned power utility Comision Federal de Electricidad , or CFE, said in a press release.
The LNG terminal has two tanks, each with a capacity of 150,000 cubic meters of LNG, a regasification plant, and a gas delivery system.
Fox also inaugurated a 1,121-megawatt power plant built by Spanish concern Iberdrola (IBE.MC) as an independent power producer, and a 130-kilometer natural gas pipeline operated by TransCanada that will carry gas from the LNG terminal to the power plant, the CFE said.
Although Mexican state oil monopoly Pemex, is currently producing a record 5.3 billion cubic feet a day of natural gas, the country remains a net importer of the fuel.
The Altamira terminal is Mexico's first LNG import facility, although others are planned on the Pacific coast. San Diego-based Sempra Energy plans to start operations of its LNG plant near Ensenada, Baja California, in early 2008.
The CFE is also tendering contracts for another down the coast at Manzanillo.
MarketWatch 26 10 06
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