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Author: Subject: Sempra subsidiary building new gasoline/diesel terminal near Ensenada
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[*] posted on 4-14-2018 at 09:11 PM
Sempra subsidiary building new gasoline/diesel terminal near Ensenada

By Rob Nikolewski, April 13, 2018

IEnova, Sempra Energy’s subsidiary in Mexico, announced it’s investing about $130 million in a marine terminal that will receive, store and deliver gasoline and diesel fuel at its facility a few miles north of Ensenada.

The project, called Baja Refinados, will service consumers in the northern border state of Baja, California, and the company has already signed a long-term contract with the local unit of Chevron to utilize about half of the terminal’s storage capacity, estimated at about 1 million barrels.

The project is expected to be completed in the second half of 2020 and will become the fourth refined product terminal in Mexico for IEnova.

Another subsidiary of Chevron will have the right to acquire 20 percent of the equity in the terminal after commercial operations begin.

The terminal will be built at IEnova’s La Jovita Energy Center, which includes the company’s Costa Azúl liquefied natural gas (LNG) facility.

The move is the latest in an aggressive corporate strategy by San Diego-based Sempra to expand IEnova’s presence in Mexico, which adopted reform policies in 2013 and 2014 that ended the monopolies of Mexico’s state-owned petroleum company PEMEX and electric company CFE.

International companies have been encouraged to strike deals to help modernize, streamline and upgrade the country’s energy landscape. Only 7 percent of households in Mexico have access to natural gas.

IEnova has also moved into the renewable energy sector, spending about $900 million on a wind energy farm with 84 turbines in the state of Nuevo León and taking an active role in wrapping up power agreements for solar projects.

The global LNG market is booming and IEnova is looking to add an export component to its Costa Azúl facility, with eye on potential customers in Pacific markets. Earlier this year, the company announced it had secured three permits from the Mexican government, should it go ahead with its LNG expansion plans.


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