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Pemex presents its LNG project in the Pacific Ocean

The project will link Pajaritos with Salina Cruz
Historically state-owned Pemex will diversify with privatization

Alejandro Martinez Sibaja, CEO of Pemex Gas and Basic Petrochemicals said that this facility is the second phase of another project, the transoceanic belt that will link the maritime terminal of Pajaritos in the city of Veracruz (Mexico), with the refinery in Salina Cruz located in the state of Oaxaca, Mexico.

[Related: Chevron and Pemex Team Up to Pursue a Range of Opportunities]

The company's goal is to take advantage of the country's geographic location and current business opportunities that the market offers for the transportation of natural gas through the Isthmus of Tehuantepec (a production in the Gulf of Mexico) for its future processing and export to Asia and Oceania, this was mentioned by Sibaja to investors, operators and developers in the energy sector.

[Related: Death Toll Jumps to 32 in Pemex Oil Blast, Mexico]

The second phase of this project will start in 2020. But this November 2014, Pemex will be conducting a number of technical, economic and infrastructure studies to determine the ideal location for the construction of such facilities, ideally near Salina Cruz (a major seaport on the Pacific coast of the Mexican state of Oaxaca).

Sibaja also mentioned that the main objective is to create value for Pemex by consolidating productive chains in the transformation process of hydrocarbons.

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Sibaja added that Pemex is establishing alliances with strategic partners to gather capital and to provide operational excellence for this project. "A consortium of major companies related to the LNG market," said Sibaja.

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