Sempra Energy’s IEnova has reached a long-term contract with Chevron Combustibles de México S. de R.L. de C.V. (Chevron) for 50 percent of the 1-million-barrel initial capacity of the Topolobampo refined fuels marine terminal in Sinaloa, Mexico.
Under the agreement, subsidiaries of Chevron will have storage capacity of 500,000 barrels of refined fuels and the option to acquire up to 25 percent of the equity in the terminal after commercial operations begin. IEnova signed a separate long-term contract for the remaining half of the facility’s initial storage capacity with another U.S. large independent refiner that will be announced at a later date.
The Chevron contract for the Topolobampo terminal is the second announced by IEnova this week. On Tuesday, IEnova announced that British Petroleum would use 50 percent of the 1-million-barrel initial capacity of the refined fuels Baja Refinados terminal to be constructed in Baja California. Earlier this year, IEnova had signed an agreement with Chevron to utilise the other 50 percent initial capacity of the Baja Refinados facility.
IEnova will be responsible for financing, obtaining permits, engineering, procurement and construction, as well as maintenance and operations. Operations of the Topolobampo facility are expected to commence in the fourth quarter of 2020.
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