Marathon subsidiary signs contract for IEnova’s Topolobampo refined fuels marine terminal in Mexico
Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), has signed a long-term contract with a subsidiary of U.S.-based Marathon Petroleum Corp. (MPC) for approximately 50% of the 1-million-barrel initial capacity of the Topolobampo refined fuels marine terminal in Sinaloa, Mexico.
Under the agreement, Marathon Petroleum’s subsidiary will have storage capacity of 500,000 barrels of refined fuels that will provide access to new international supplies of fuel to meet the growing demand in the West Coast region of Mexico. Commercial operations of the approximately USD150-million marine terminal are expected to commence in late 2020.
Last month, IEnova also signed a long-term contract with Chevron Combustibles de Mexico S. de R.L. de C.V. for 50% of the initial capacity of the terminal.
IEnova will be responsible for the development of the liquid fuels project, including obtaining permits, engineering, procurement, construction, financing as well as maintenance and operations.
Last month, IEnova also announced that it is constructing a 1-million-barrel liquid fuels project in Baja California, Mexico. Together, these projects advance IEnova’s growth plan to develop and build energy infrastructure in Mexico and support Sempra Energy’s strategic vision to become North America’s premier energy infrastructure company.
As of the end of 2017, the company had invested more than USD7.6 billion in operating assets and projects under construction in Mexico, making it one of the largest private energy companies in the country. IEnova was the first energy infrastructure company to be listed on the Mexican Stock Exchange.
Sempra Energy, a San Diego, Calif., U.S.A.-based energy services holding company with 2017 revenues of more than USD11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies’ approximately 20,000 employees serve more than 40 million consumers worldwide.