Mexico Pacific has signed a third long-term Sales and Purchase Agreement (SPA) with ExxonMobil LNG Asia Pacific (EMLAP) for an additional 1.2 million tonnes per annum (MTPA) of Liquefied Natural Gas (LNG) from Train 3 of Mexico Pacific’s Saguaro Energia project located on the west coast of Mexico.
The volume originates from the option under the separate LNG SPAs executed in January 2023, covering volumes from Trains 1 and 2. Under the Train 3 LNG SPA, EMLAP will purchase LNG on a free-on-board basis over a 20-year term. There is also an option for another 1 MTPA from Train 4.
While we remain focused on initially taking FID on Trains 1 and 2, this latest LNG SPA with ExxonMobil concludes the LNG sales required for a subsequent Train 3 FID expected this year.
..said Ivan Van der Walt, CEO Mexico Pacific.
“Bringing additional North American LNG to global markets advances energy security and helps to lower emissions in many countries with high energy demand,” said Peter Clarke, ExxonMobil’s Head of Global LNG and Senior Vice President.
