Mexico's IEnova To Invest $130MM In Baja California Fuel Terminal



Reuters

MEXICO CITY, April 12 (Reuters) - Mexican energy infrastructure firm IEnova, a unit of U.S.-based Sempra Energy, will invest about $130 million to develop a refined products terminal in the northern border state of Baja California, the company said in a statement on Thursday.

The facility will feature initial storage capacity of 1 million barrels, the statement added, and is expected to begin commercial operations during the second half of 2020.

The company said the capacity of the terminal, which will be built and operated by IEnova, has been fully contracted on a long-term basis.

Half of the capacity has been acquired by a local unit of U.S. oil major Chevron Corp, the statement added. While another "global oil company" has signed a long-term contract for use of the terminal, it was not named.

The so-called Baja Refinados terminal is designed to offer fuel supplies, mostly gasoline and diesel, to consumers in Baja California.

The facility marks IEnova's fourth fuel terminal in Mexico and will be located some 50 miles (81 km) south of the U.S.-Mexico border, just outside the city of Ensenada.

(Reporting by David Alire Garcia and Veronica Gomez Editing by Matthew Lewis)



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