Sempra Energy’s IEnova and Sempra LNG units have signed a Memorandum of Understanding (MOU) with a subsidiary of Mexico's state-owned petroleum company, PEMEX. The MoU will cover cooperation in the development of a natural gas liquefaction project at the site of the Energía Costa Azul terminal in Ensenada, Mexico.
The MOU defines the basis for the parties to explore PEMEX's participation in the potential Energía Costa Azul liquefaction project, including joining efforts on its development and structuring agreements that would allow opportunities for PEMEX to become a customer, natural gas supplier and investor.
In 2008, Energía Costa Azul became the first LNG receipt terminal operating on the west coast of North America. The LNG terminal is capable of processing up to 1 billion ft3/d of natural gas.
Mark A. Snell, President of Sempra Energy, said: "This is an important first step in working with PEMEX on the development of liquefaction facilities at Energía Costa Azul […] We look forward to working collaboratively with PEMEX and our existing customers as the development continues to advance."
Sempra Energy named amongst ‘World’s most admired companies’
Meanwhile, Sempra Energy has earned recognition as one of the ‘World's Most Admired Companies’ for 2015 from Fortune magazine.
The company ranked number 4 in the Electric and Gas Utilities category.
Debra L. Reed, Chairman and CEO, Sempra Energy, said: "I am very proud that Sempra Energy has been named one of the 'Most Admired Companies' because it reflects the hard work of our 17 000 employees worldwide […] It is an honor to be recognised by our industry peers and the financial community."
Adapted from press release by Callum O'Reilly