Comision Federal de Electricidad, Mexico’s state utility, will buy 18 spot cargoes of liquefied natural gas cargoes for delivery over the next 18 months from Trafigura AG.
The utility paid an average price of $15.84 per million British thermal units for the cargoes, which will be sent to the Manzanillo terminal on the country’s west coast, CFE said in an e-mailed statement yesterday. The first shipment will reach the terminal on July 19, with the average volume of each cargo at 110 million cubic feet per day.
Manzanillo, with a capacity of 3.8 million metric tons a year, started operations in May 2012, according to the website of Samsung C&T (000830) Corp. Korea Gas Corp. (036460), the world’s biggest LNG buyer, owns 25 percent of the terminal and Mitsui & Co. (8031) and Samsung C&T split the remaining 75 percent, according to the website.
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