Kogas of South Korea on Thursday said it has signed a memorandum of understanding with the state government of Yucatan in Mexico to construct an LNG import terminal and natural gas pipelines.
The LNG project, to be located in the in the port city of Progreso in Yucatan on the Gulf of Mexico, is expected to cost between US$1 billion to $1.5 billion, according to Kogas.
The world’s second-largest LNG buyer, Kogas said the LNG terminal would supply gas to the southern part of Mexico to cities such as Merida and Cancun.
Kogas plans to conduct a feasibility study before deciding whether to proceed with the LNG import project in Mexico.
LNG World News Staff