Mexico Pacific inks SPAs with ExxonMobil
Mexico Pacific, which is developing its three-train, 14.1mn metric tons/year Saguaro Energia LNG project near Sonora on Mexico’s Pacific Coast, said February 7 it had signed two sales and purchase agreements (SPAs) with an affiliate of ExxonMobil covering 2mn mt/yr from the facility’s first two trains.
The two SPAs provide for ExxonMobil’s purchase of the LNG on a free-on-board basis over a 20-year term. ExxonMobil LNG Asia Pacific will also have an option for 1mn mt/yr from the project’s third train.
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“We have reached a critical point on contract volumes required for FID on our first two trains and will now shift focus to close contracting on the significant commercial momentum in place for a subsequent Train 3 FID,” Mexico Pacific CEO Ivan Van der Walt said. “As we position for FID on the first two trains, we will also commence advanced engineering with Bechtel.”