Mexico Pacific said Thursday it has engaged Mitsubishi UFJ Financial Group as a financial advisor as it moves towards a final investment decision on its LNG export project.
The Japanese group is one of the largest financial institutions in the world.
Mexico Pacific believes that this move would largely help the developer in advancing its Pacific Coast LNG export project.
Chief executive Douglas Shanda said MUFG’s appointment represents “another important milestone in Mexico Pacific’s aggressive advancement to FID.”
Mexico Pacific, owned by US investment firm AVAIO Capital, is planning to build a 12 mtpa LNG export facility.
The plant would be located in Puerto Libertad, Sonora on Mexico’s west coast and would connect the Permian gas basin in the United States to the Asian markets.
The company recently awarded a front end engineering design contract for the LNG export project to Technip USA.