Liquefied natural gas for Europe: Mexico plans an LNG hub

Mexico plans to build a hub to export liquefied natural gas (LNG) in the Gulf of Mexico, worth between US$4 and US$5 billion.

According to President Andres Manuel Lopez Obrador, this is intended to meet European demand.

The planned LNG plant at the port of Coatzacoalcos in the eastern state of Veracruz would transport gas to Europe by ship.

“Now that there is a gas shortage in Europe, we have this opportunity,” the head of state said at his regular press conference.

López Obrador made these remarks after offering to intensify cooperation with Germany on liquefied natural gas, according to German President Frank-Walter Steinmeier.

Mexico does not yet export “LNG,” although it is one of the region’s main crude oil exporters.

In August, the Canadian company “TC Energy” signed an agreement with the Mexican state electricity company “Comisión Federal de Electricidad” (CFE) to build a US$4.5 billion pipeline connecting the port of Tuxpan with Coatzacoalcos and the ports of Veracruz and Dos Bocas.

With information from Latina Press