Asian Bidders Win Mexico LNG Mandate

Mitsui, Samsung and Korea Gas have won a $900m mandate to build an LNG receiving terminal from Mexico’s Comision Federal de Electricidad, says Mitsui. The three partners will build and own the terminal at Manzanillo on the Pacific coast, and provide natural gas to the CFE for 20 years once operations start in 2011. Mitsui and Samsung will each have a 37.5% stake in the project and Korea Gas will hold the remaining 25.0%. The 14m cubic meters per day facility will consist of two LNG tanks, a regasifaction facility and a pier.