BP and IEnova have executed a new long‐term contract for BP to use the refined product receipt, storage, and delivery terminals that IEnova is developing in the cities of Manzanillo, Colima and Guadalajara, Jalisco. BP will be able to store more than one million barrels in these terminals to supply more than 150 BP service stations located in the western region of the country.
In the Manzanillo terminal, BP will have 740,000 barrels of storage, which represents 50 percent of the terminal’s capacity. In the Guadalajara terminal, the agreement will allow up to 290,000 barrels of gasoline and diesel storage.
Last September, BP announced that it will utilize 50 percent of the storage capacity of Ienova’s Baja Refinados terminal in Ensenada, Baja California, which is currently under development.
This new agreement to use the Manzanillo and Guadalajara terminals will allow BP to enhance its supply options, improve logistics, and increase fuel delivery reliability, which will contribute to energy security in Mexico’s central‐western region.
Subject to executing certain agreements, BP will have the option to acquire between 20 percent and 25 percent of the equity in these projects once they reach commercial operations.
The announcement of this new contract is one more example of how BP is continuously evaluating the various options offered by the Mexican market for the operation of its service station network in the country.
This project also demonstrates IEnova’s commitment to the development of necessary and critical infrastructure for Mexico, which is part of the strategic asset diversification plan undertaken by the company in recent years.
For more information visit www.ienova.com.mx