According to Reuters, Korea Gas Corp. (Kogas) has signed a memorandum of understanding (MoU) with the Government of Yucatan, Mexico, to construct an LNG import terminal and the associated gas pipelines.
Reportedly, the pipelines and terminal will be used to provide natural gas to Southern Mexico.
Reuters claims that Kogas is planning to carry out a feasibility study on the project. It will then look at the results, and decide whether or not it will proceed with the construction of the project.
Reuters also added that the LNG project could cost in the region of US$1 billion to US$1.5 billion.
Total and Korea Gas Corp. have signed an MoU, which will see both parties strengthen their cooperation, particularly in their efforts to develop the Asian LNG market.