Mexico Pacific Limited LLC (MPL) and ExxonMobil LNG Asia Pacific have signed two long-term offtake agreements for MPL’s Saguaro Energía liquefied natural gas export terminal proposed for Puerto Libertad in Mexico’s Sonora State.

Under the 20-year sales and purchase agreements (SPA), the ExxonMobil subsidiary would purchase a combined 2.0 million metric tons/year (mmty) of LNG on a free-on-board (FOB) basis from Saguaro Energía’s first two trains.

The three-train, 14.1 mmty Saguaro Energía project, which has yet to reach a final investment decision (FID), is designed to supply gas from the Permian Basin to consumers in the Asia-Pacific region. The terminal’s location on Mexico’s Pacific Coast would allow LNG marketers to bypass the Panama Canal, cutting costs and...