Under the agreement, MPC's subsidiary will have storage capacity of 500 000 bbls of refined fuels that will provide access to new international supplies of fuel to meet the growing demand in the West Coast region of Mexico. Commercial operations of the approximately US$150 million marine terminal are expected to commence in late 2020.
Last month, IEnova announced that it signed a long-term contract with Chevron Combustibles de Mexico S. de R.L. de C.V. for 50% of the initial capacity of the terminal. IEnova will be responsible for the development of the liquid fuels project, including obtaining permits, engineering, procurement, construction, financing as well as maintenance and operations.
IEnova also announced last month that it is constructing a 1 million bbls liquid fuels project in Baja California, Mexico.
