IEnova Continues Dynamic Growth in Mexico
Sempra Energy’s subsidiary IEnova recently was awarded a 20-year contract by the Topolobampo Port Administration to build and operate an estimated $150 million receipt, storage and send-out liquid fuels marine terminal in the state of Sinaloa, Mexico.
The first phase of the new liquid fuels terminal will have a storage capacity of 1 million barrels of fuel, including gasoline and diesel. Operations are expected to start in the fourth quarter of 2020.
Topolobampo is the fifth liquid fuels terminal project to be announced by IEnova and continues to add to the company’s dominant position in this key market. IEnova also recently announced an expansion of its liquid fuels terminal in Veracruz and redistribution of capacity at terminals in Mexico City and Puebla, bringing IEnova’s expected terminal storage capacity to over 5 million barrels.
These marine storage terminals add to IEnova’s rapidly growing energy infrastructure portfolio and will provide a place for international refiners to store their products as Mexico works to build its inventories of gasoline and other refined products.
“We are currently building more than 10 energy projects in Mexico, from natural gas pipelines, to wind and solar plants and liquids storage terminals,” said Tania Ortiz Mena, CEO of IEnova. “Our position as a strategic partner in Mexico’s new energy market is just beginning. IEnova is eagerly working to capitalize on some of the $45 billion in potential market opportunities in Mexico’s energy sector that will enhance the country’s supply of reliable and competitively priced energy.”
IEnova also is working to help Mexico meet its goals of providing cleaner energy sources like natural gas and renewable energy to consumers. IEnova owns cross-border pipelines that deliver U.S. gas to Mexico, and the company’s regulated utility supplies natural gas to more than 400,000 residential, commercial and industrial consumers in northern Mexico. Today, more than 60 percent of Mexico's gas is imported and more than 50 percent of Mexico's electricity is generated from natural gas. In addition, IEnova has more than 400 megawatts (MW) of renewable power projects in operation, with approximately 480 MW under construction.
Photo (above): Tania Ortiz Mena, CEO of IEnova