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The Government of Mexico entering agreement with New Fortress Energy

Mexico City, Mexico — President Andrés Manuel López Obrador says the Government of Mexico is entering into an agreement with New Fortress Energy. The agreement will be for the creation of liquefaction plants as well as the construction of offshore gas platforms.

“Although a first stage has already begun in Altamira, expanding to its full capacity would mean an estimated investment of $5.5 billion dollars,” he reported in a statement Thursday.

López Obrador said the project, which represents progress, jobs and well-being, joins the Federal Electricity Commission (CFE) who will obtain profits from sales.

“The CFE will obtain profits from the sale of liquefied gas in international markets . CFE Internacional will buy the natural gas in the United States and transport it through the Brownsville Pipeline for export to Mexico.

“CFEnergía will import the natural gas, transport it through the South Texas-Tuxpan marine pipeline owned by Gulf Marine Infrastructure, and sell it to the liquefaction plant,” he explained in his statement.

He said the infrastructure will be located 26 kilometers from the Altamira coast and contemplates the installation of a platform, which will allow gas to be frozen for special shipments to Europe.

This design will be the first of its kind in the national territory, so that Mexico will become an exporter of liquefied natural gas for the first time in history.

“This is going to produce, it is going to generate jobs, (…) work for Altamira,” he said.

López Obrador said that the federation focuses its efforts on rescuing and promoting public companies in the nation such as the CFE in favor of public interest.

“What we want is for the public to always take precedence. That is the difference we have with our adversaries, who are not our enemies, (…) but they are two different conceptions since they are betting on privatizing, on converting what is public to private,” he explained.

His announcement came after a Thursday tour of the Altamira natural gas plant.