Mexico’s state-owned oil company Pemex announced Friday it will develop the country’s first natural gas liquefaction plant.
Pemex plans to build the plant in the Pacific coast with some $6 billion and it is expected to be operational in 2020, according to Pemex's press release.
The company said the goal for the plant is to export natural gas to Asia and Oceania markets.
Mexico passed energy reform legislation in August which opened the energy market to foreign investors. Pemex signed a memorandum of understanding with global oil giants Chevron and Eni in late October.
The country aims to benefit from global companies' experiences and boost hydrocarbon production after exploration of the country's deep-sea and shale reserves.
Director General of Pemex Gas and Basic Petrochemicals, Sibaja Alejandro Martinez, said that Pemex is seeking alliances with strategic partners to cooperate in operations and financing.
By Nihan Cabbaroglu