Total Snags Equity Stake in Mexico Natural Gas Export Project
France’s Total SE has joined Sempra Energy subsidiaries Sempra LNG and Infraestructura Energética Nova (IEnova) in developing Mexico’s first natural gas export project.
Total management said Tuesday the company now holds a 16.6% equity share of the Energía Costa Azul (ECA) liquefied natural gas (LNG) project set for Ensenada in Baja California on Mexico’s Pacific Coast. Last April, Total also closed a twenty-year offtake agreement for 1.7 million tonnes per annum (Mtpa) of LNG from ECA.
The project is additionally backed by a 20-year sale and purchase agreement with Mitsui & Co. for approximately 0.8 million Mtpa.