IEnova has executed two long‐term contracts for the receipt, storage, and delivery of refined products in terminals that it is developing in Manzanillo, Colima, and Guadalajara, Jalisco.

The terminal in Manzanillo, in which IEnova holds a 51 percent stake in a joint venture with Trafigura, has secured 1.48 million barrels of storage including, the 740,000 barrels previously agreed with Trafigura. In Manzanillo, the development of a marine terminal to receive refined products by ship, store and deliver them by rail and truck is planned.

In the Guadalajara terminal, IEnova executed an agreement with the same company that enables the storage of up to 290,000 barrels of gasoline and diesel in a new terminal that will be able to receive refined products by rail, store and deliver them by truck. The total capacity will be defined once additional commercial agreements with prospective customers have been completed.

“These two terminals will enhance supply options, improve logistics, and increase fuel delivery reliability in the central west region of Mexico, which will translate into benefits for consumers in the region,” the company said in a statement.

Subject to executing certain agreements, this global integrated oil company will have the option to acquire up to 20 percent of the equity of the Manzanillo project and up to 25 percent of the equity in the Guadalajara project; in each case, IEnova will always hold at least 51 percent of the equity of each project. 

IEnova, through its affiliates, will be responsible for all aspects of implementing each of these two projects, including permitting, engineering, procurement, construction, financing, operations, and maintenance of the terminal. With these two projects, IEnova now has seven refined product terminal storage projects under development in the country.

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1st May 2019