A consortium led by AVAIO Capital has acquired control of an LNG export facility project on the Pacific Coast of Mexico, the firm announced on Wednesday.
Investors, including AVAIO and funds managed by Tortoise Capital Advisors, will invest new capital in the business to fund the work of developer Mexico Pacific Limited (MPL).
The 12 metric tonnes per annum (mtpa) facility will be built on a 1,100-acre site owned by MPL, located in Puerto Libertad in Sonora, Mexico, roughly 125 miles south of the Arizona border. It will leverage U.S. shale gas and existing pipeline infrastructure to deliver some of North America’s cheapest landed LNG into Asia, according to AVAIO. The project is set to be built in phases.
“Demand for a Pacific Coast of Mexico export outlet for U.S. shale gas is proven, and we are excited to acquire control of MPL, the only other LNG project on the west coast of North America that can serve as an outlet for U.S. shale gas that has all its maj
