Sempra Energy Unit to Develop Marine Terminal in Mexico
- Business & Finance
Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova (IEnova), plans to invest in a marine terminal at the La Jovita Energy Hub in Ensenada, Mexico.
As informed, IEnova will develop, build and operate the receipt, storage and send-out liquid fuels marine terminal — the company’s fourth refined product terminal in this country.
With an expected investment of approximately USD 130 million, the new Baja Refinados liquid fuels terminal will have an initial storage capacity of 1 million barrels of gasoline and diesel that will increase the fuel supply capacity and reliability in Baja California, Sempra Energy said in a statement.
The marine terminal is expected to commence operations in the second half of 2020.
IEnova also revealed it has signed a long-term contract with Chevron Combustibles de México for approximately 50 percent of the facility’s storage and send-out capacity to supply Chevron service stations and other commercial and industrial consumers in Baja California. Chevron will have the option to acquire 20-percent equity ownership of the facility after commercial operations begin.
IEnova will be responsible for the development of the liquid fuels terminal project, including obtaining permits, engineering, procurement, construction and financing, as well as maintenance and operations.