Mexico Pacific inks 20-year LNG supply deal with South Korea's POSCO International

Posco International

29/08/2024 07:43

SINGAPORE, Aug 29 (Reuters) - Mexico Pacific said it has
signed a long-term sales and purchase agreement with South
Korea's Posco International Corp  047050.KS  to supply it with
liquefied natural gas (LNG). 
    POSCO International will purchase 0.7 million tonnes per
annum of LNG on a free-on-board (FOB) basis over 20 years, said
Mexico Pacific in a statement. 
    "Mexico Pacific and POSCO International are evaluating
additional opportunities to expand upon this initial commercial
partnership," the statement added. 
    Mexico Pacific owns the Saguaro Energia LNG project, which
is located in Sonora, Mexico. The project is set to ship 15
million tonnes per annum of LNG to Asia, using gas from the U.S.
Permian Basin.
    Mexico Pacific has previously signed supply agreements with
Exxon Mobil, Woodside Energy and Zhejiang Energy. 
    

 (Reporting by Emily Chow; editing by Miral Fahmy)
 ((emily.chow@thomsonreuters.com; Reuters Messaging:
emily.chow.thomsonreuters.com@reuters.net))