Mexico Pacific Announces Commitment to Social Investments in Sonora and Chihuahua
19 Junio 2024 - 8:30AM
Mexico Pacific (“Mexico Pacific” or the “Company”), owner of the
Saguaro Energía LNG facility and associated Sierra Madre Pipeline,
today announced that it has signed an agreement with affiliates of
Comisión Federal de Electricidad (“CFE”), Mexico’s state-owned
natural gas and power utility, pursuant to which Mexico Pacific
will make unprecedented social investments in the Mexican States of
Sonora and Chihuahua (“Social Investment Agreement”). The Social
Investment Agreement establishes mechanisms for the creation of
dedicated trusts governed by representatives of Mexico Pacific,
CFE, and State governments, to allocate and implement the social
investments.
Following extensive community engagement and consultations,
Mexico Pacific, CFE, State and Municipal authorities have carried
out a needs analysis and established six areas of focus for social
investments: community infrastructure, skills development,
education, security and peace, environment, and health.
Approximately half of the investments will be made in communities
along the route of Mexico Pacific’s Sierra Madre Pipeline, which
spans six municipalities in Chihuahua and ten municipalities in
Sonora. The other portion of the investments will be made in Puerto
Libertad, a precinct of the Municipality of Pitiquito in the State
of Sonora, where Mexico Pacific’s Saguaro Energía LNG facility will
be constructed.
“At Mexico Pacific, we are proud to have consciously designed
our Saguaro Energía LNG facility and the supporting Sierra Madre
pipeline to achieve positive environmental and social outcomes,
complementing the material economic benefits they will bring to the
region. A testament to our long-term commitment to communities,
this Social Investment Agreement provides for unprecedented
investment in community infrastructure and high-impact social
programs, which will have a lasting positive effect on the sixteen
municipalities in Chihuahua and Sonora in which we will build and
operate our facilities,” said Sarah Bairstow, Mexico Pacific’s
Chief Executive Officer. “We are pleased to be working
collaboratively with our partner, CFE, the State governments and
people of Sonora and Chihuahua who share our vision, and look
forward to delivering world-class infrastructure that strengthens
global energy security, reduces emissions, and improves the lives
of so many people in Mexico and around the world.”
The Social Investment Agreement builds upon the existing
strategic alliance among Mexico Pacific, CFEnergía, and CFE
International that includes the supply of natural gas delivered
from the Permian Basin into Mexico Pacific’s pipeline in the U.S.
and via CFE pipelines to the Saguaro Energía LNG facility in Puerto
Libertad, Sonora, Mexico. With this commitment to social
investments throughout the construction and operations phases of
its energy infrastructure projects, Mexico Pacific will have a
meaningful and sustained positive impact on the health and
prosperity of future generations in Mexico.
With three liquefaction trains commercially contracted, strong
support from governments and capital markets, and key federal,
state, and municipal permits in place across the Saguaro Energía
LNG facility and the Sierra Madre Pipeline, Mexico Pacific
anticipates achieving a final investment decision (FID) in 2024.
Together, these developments comprise the largest private
investment in Mexico and a foundational pillar of the Sonora Plan
that promotes clean energy development, investment, and economic
prosperity for the region.
About Mexico PacificMexico Pacific’s anchor
project, the 15 mtpa Saguaro Energía LNG Facility, is the most
advanced LNG development project on the West Coast of North
America. The Saguaro Energía LNG Facility achieves significant cost
and logistical advantages resulting in the lowest landed price of
North American LNG into Asia by leveraging low-cost natural gas
sourced from the nearby Permian Basin and a significantly shorter
shipping route avoiding Panama Canal transit risk. More information
is available at http://www.mexicopacific.com.
ContactAllison ClarkDirector, Communications
& Brandingaclark@mexicopacific.com+1-713-427-2764