Altamira Gas Plant Launches CFE's Global Export Journey

The installation of the natural gas liquefaction (LNG) plant by the American company New Fortress Energy in Altamira marks CFE's first official venture into global energy exports. During the 60th regular session of the Board of Directors, CFE Director General Manuel Bartlett outlined energy sector strategies and reviewed the past year's achievements.

New Fortress Energy, which announced in 2022 its plans to establish a complex on the Gulf Coast of Mexico along with two additional onshore facilities, has invested over US$7 billion in the project. This complex will process hydrocarbons and distribute them by ship to 17 countries, having received authorization from the U.S. Department of Energy as reported by Milenio. 

According to the Tamaulipas Secretary of Energy Development, the installation, consisting of three modules, is already in place a few kilometers from Altamira. The plant is estimated to generate profits of US$15 billion, 10% of which will go to CFE. Additionally, the southern region of Tamaulipas will benefit from increased employment and services.

This project is part of a broader initiative in which the state is also indirectly involved. Through a partnership with TC Energy, the extension of the Marine Gas Pipeline will deliver gas to plants on the Yucatán Peninsula, ensuring a 30-year supply. Upon completion of this contract, CFE will own 49% of the marine gas pipeline extension and 15% of the unified system. The economic benefits are projected to be US$3.077 billion.

Manuel Bartlett revealed that CFEnergía (CFEn) and CFE International (CFEi), both consolidated subsidiaries, generate revenue for investments in the electric sector. From 2019 to 2023, the current administration has managed to commercialize 2.5 times more natural gas transportation compared to 2018, resulting in an income of approximately US$136 billion, averaging US$27 billion per year.

Mexico’s Future in Natural Gas

Looking ahead, the country is preparing for liquefied natural gas (LNG) exports to Europe and Asia starting in 2025, primarily sourced from US shale basins. Projects like the expansion of the Energía Costa Azul terminal in Baja California and the construction of the Saguaro Energía facility in Sonora are set to enhance Mexico's role in the global LNG market. With investments totaling US$20 billion by 2024, Mexico is positioned to become a major player in LNG exports, leveraging its strategic geographical location and partnerships with international energy firms.

• Energía Costa Azul - Ensenada, Baja California: Expansion to accommodate LNG exports starting in 2025, operated by Sempra Energy.

• Saguaro Energía - Puerto Libertad, Sonora: Construction slated to begin in 3Q24, aiming at LNG exports to China, operated by Mexico Pacific Limited.

• Vista Pacífico - Topolobampo, Sinaloa: Medium-scale facility jointly developed with CFE, operated by Sempra Energy, with an export capacity of approximately 3.5Mt annually.