Mexico Pacific said Thursday it has engaged Mitsubishi UFJ Financial Group as a financial advisor as it moves towards a final investment decision on its LNG export project.
Japan’s MUFG is one of the world’s largest publicly traded financial institutions and Mexico Pacific believes that this move would largely help the developer in advancing its Pacific Coast LNG export project.
“With its breadth of knowledge and experience and strong relationships with leading lenders and investors globally, MUFG’s appointment represents another important milestone in Mexico Pacific’s aggressive advancement to FID”, said chief executive Douglas Shanda .
Mexico Pacific, owned by US investment firm AVAIO Capital, is planning to build a 12 million tons per year LNG export facility in Puerto Libertad, Sonora on Mexico’s west coast.
The aim is to connect the Permian gas basin in the United States to the Asian markets.
The company recently awarded a front end engineering design contract for the LNG export project to Technip USA.