Mexican firm Ursus Energy has received the concession for the Coatzacoalcos II development hub, enabling it to proceed with a planned LNG plant focused on exports to the Americas and Europe, the company said on Monday.
The project, named Coatzacoalcos-Podebi LNG, will be backed by an initial USD 450-million investment proposed by the National Bank of Foreign Trade (Bancomext) to cover concession commitments, land preparation, platform installation, technology licensing and EPC work.
The plant will supply natural gas to southeastern Mexico and export LNG to Central and South America, the Caribbean and Europe. It will also support domestic supply via the trans-Isthmus railway operated by the navy while pipeline infrastructure is under development.
“The Coatzacoalcos-Podebi LNG project will not only create jobs in Veracruz but also strengthen the country’s energy and logistics infrastructure, positioning Mexico as a reliable investment destination,” Ursus Energy director-general Santiago Fabián Arroyo Seguedo said.
The initiative is aligned with the federal government’s economic strategy for the region, under the Interoceanic Corridor of the Isthmus of Tehuantepec, which includes 11 development hubs across Veracruz, Oaxaca, Tabasco and Chiapas.
Ursus Energy is a Mexican company engaged in energy infrastructure development, with a focus on LNG, power generation and related logistics projects, supporting regional energy security and exports.
As the new project moves forward, Ursus will become the first fully Mexican LNG export company.
Source: theenergyyear.com