KOGAS Signs MoU to Build LNG Plant in Mexico

Korea Gas Corporation (KOGAS) has signed MoU an MoU with the government of Mexico's Yucatan state to build an LNG import terminal and pipeline infrastructure.

According to a statement published by the company on Thursday, the MoU was signed on August 9 by KOGAS' president and the governor of the state.

The plant is expected to be built in the city of Progreso, located on the Gulf of Mexico. KOGAS will conduct a feasibility study before taking a final decision on the project.

According to Pulse News, the project is expected to be worth in between $1 billion and $1.5 billion. A source told the news agency that KOGAS will promote the deal in package that includes LNG terminal contraction, gas imports and sales to end consumers such as power stations, industries, and hotels.