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New LNG production will begin in Mexico

Updated: Apr 27, 2023

New Fortress Energy plans to finish construction of its first liquefied natural gas plant in Altamira, Tamaulipas, Mexico, in May 2023.

"The New Fortress Energy FLGN Altamira project will be located in the territorial sea of the Gulf of Mexico, 15 kilometers inland from the coast of the municipality of Aldama and 25 kilometers from the port of Altamira, located south of the municipality of Altamira, in Tamaulipas," said Mexico FLNG, published Forbes Mexico.

Mexico FLNG was founded by the British companies FLNG Global Production Co. Limited and NFE International Holding Limited, to export liquefied natural gas.

The project considers two units, each one of them can convert about 0.18 billion cubic feet per day (bcfd) of natural gas into about 1.4 million tonnes per year of LNG.

The purpose of these plants is to bring LNG to Europe. Natural gas will arrive at the Altamira plant through a pipeline that goes from Brownsville, Texas to Tuxpan, Veracruz.

There, it will pass from gaseous to solid and will be transported in vessels to the Europe, said Forbes México.

"We're less than 100 days away from our first (Fast) LNG setting sale to its home in Altamira, Mexico", New Fortress CFO, Christopher Guinta told analysts, quoted by Reuters.

The US company said that it planned to finish construction of its first Fast LNG unit in May before moving the Altamira offshore plant in Mexico in June and producing liquefied natural gas (LNG) there in July, according to Reuters.

Pemex is also part of the New Fortress Energy LNG production project

The company Petróleos Mexicanos (PEMEX) will use gas extraction work in the Lakech field in the Gulf of Mexico, thanks to an agreement signed with New Fortress Energy, to whom it will also sell part of its production, said Forbes México.

With an investment of 1.4 billion dollars by PEMEX and another of 1.5 billion dollars by NFE, the Mexican company will begin hydrocarbon production in the first quarter of 2024, Pemex announced in a statement, noting that this deposit has a reserve of around 900,000 million cubic feet, which means an average production of 300 million cubic feet per day over a 10-year horizon.

The agreement also includes the sale by PEMEX to NFE of 190 million cubic feet per day, the rest of the production will go to the producer.

"This act represents not only the rescue of an investment that was sunk for Pemex, but also it becomes a business that will bring economic benefits to the country”, indicated the state productive company.

LNG is extracted in the Gulf of Mexico
LNG vessel

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