IEnova to Construct $130 Million Baja Refinados Liquid Fuels Terminal, Mexico
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Sempra Energy said that its Mexican subsidiary Infraestructura Energética Nova (IEnova) plans to build a liquid fuels terminal called Baja Refinados in the Mexican state of Baja California with an investment of around $130m.
IEnova will develop, construct and operate the receipt, storage and send-out liquid fuels marine terminal at the La Jovita Energy Hub, located 23km north of Ensenada. The new Baja Refinados liquid fuels terminal will initially have a storage capacity of 1 million barrels of gasoline and diesel.
Expected to begin operations in the second half of 2020, the Baja Refinados liquid fuels terminal will boost the fuel supply capacity and reliability in Baja California, said Sempra Energy.
The new terminal will deliver mainly gasoline and diesel within the La Jovita Energy Hub and is supported by a long-term contract signed by IEnova with Chevron Combustibles de México.
Under the contract, nearly 50 percent of the terminal’s storage and send-out capacity will be supplied to Chevron service stations along with other commercial and industrial consumers in Baja California.
Once the liquid fuels terminal is placed into service, Chevron will have the option to acquire a stake of 20 percent in it, said Sempra Energy.
The San Diego-based energy company expects its subsidiary IEnova to handle all aspects of the development of the Baja Refinados liquid fuels terminal project. This will include obtaining permits and executing engineering, procurement, construction, securing financing and taking care of the maintenance and operations of the terminal.
The new terminal project is expected to create nearly 600 jobs during its construction.
IEnova, in a statement, said: “This is IEnova’s fourth refined product terminal in Mexico, which is consistent with its commitment to position itself as a leader in the refined fuels storage and transport sector, as well as contribute to Mexico’s energy infrastructure development.
“This transaction also enriches IEnova’s portfolio of customers with a world-class refining and fuels marketing company.”
In last July, IEnova was given a $155m contract to build and operate a liquid fuels project on the Mexican Gulf Coast in Veracruz from the Veracruz Port Administration.
Source: Energy Business Review
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