Mexico plans to build an LNG export hub worth between $4 billion and $5 billion in the Gulf of Mexico that will help serve European demand, according to President Andres Manuel Lopez Obrador.
As Reuters reports, the planned LNG facility in the port of Coatzacoalcos, in the eastern state of Veracruz, would transport gas by boat to Europe.
What is more, Mr. Obrador added that this is “going to be an investment of $4-5 billion this plant,” while earlier he suggested a cooperation with Germany over “liquid gas”.
Mexico does not yet commercially export LNG, though it is one of the top crude oil exporters in the region.
Finally, during August, Canadian firm TC Energy signed a deal with Mexican state power utility Comision Federal de Electricidad (CFE) to build a $4.5 billion gas pipeline connecting the port of Tuxpan with Coatzacoalcos, and the ports of Veracruz and Dos Bocas.
