IEnova and Chevron sign contract for refined fuels terminal in Mexico

Under the agreement, subsidiaries of Chevron will have storage capacity of 500 000 bbls of refined fuels and the option to acquire up to 25% 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 US 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% of the 1 million bbls initial capacity of the refined fuels Baja Refinados terminal to be constructed in Baja California.

Earlier this year, IEnova signed an agreement with Chevron to utilise the other 50% 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 4Q20.

Sempra Energy announced in August that it formed a new operating group, Sempra North American Infrastructure. The new group's operations include IEnova, as well as Sempra LNG & Midstream development and marketing activities.

Read the article online at: https://www.tanksterminals.com/terminals/14092018/ienova-and-chevron-sign-contract-for-refined-fuels-terminal-in-mexico/