GLNG: Mexico Pacific signs additional long-term sales and purchase deal with ExxonMobil

LNG developer Mexico Pacific agreed with US oil major ExxonMobil to an additional long-term sales and purchase agreement on January 16 for a further 1.2mn tonnes per year (tpy) of LNG from its Saguaro Energia project.

The two companies first agreed to an LNG offtake agreement in February 2023. Under the terms of that deal, ExxonMobil signed a contract to buy 2mn tpy of the super-chilled fuel for 20 years from the first two liquefaction units at the Saguaro Energia plant in Puerto Libertad on Mexico’s western coast.

Exercising its option to purchase additional supplies of LNG from Train 3, ExxonMobil will buy the super-cooled gas on a free-on-board basis for a 20-year term. The Houston-based company also retains the right to purchase a further 1mn tpy for liquefaction Train 4.