Mexico gas operator taps European bank for Soto La Marina project

Monday, March 3, 2014

A Mexico natural gas operator has turned to European financing for a 71mn-euro (US$97.7mn) compression station project, BNamericas has learned.

Company Estación de Compresión Soto La Marina filed a 36mn-euro request with the European Investment Bank, according to lender information.

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Last year, Enagás landed the contract to build and operate the station for national power utility CFE in Tamaulipas state.

The infrastructure aims to increase capacity of the existing San Fernando-Cempoala pipeline to deliver additional gas to the Gulf coast from northern Mexico. The 19Gm3/year-capacity station will boast three 15.5MW compressors, one of which will be a spare unit.

"No residual negative social impacts are identified in the EIS," said the bank.

BNamericas will host its second annual Mexico Energy Summit in Mexico City on May 21-22. Click here to download the agenda.