Vessel to Complete Mexico's First Floating LNG Plant Sets Sail

A storage vessel for Mexico's first liquefied natural gas (LNG) plant departed U.S. waters on Monday for Altamira, Mexico, according to ship tracking data, putting the offshore project on track to soon inaugurate exports.

LNG developer New Fortress Energy last week said its 1.4-million-metric-tons-per-year Altamira floating LNG project had begun processing gas. The company earlier this year had postponed the inauguration amid delays in receiving the infrastructure.

"We're excited to announce that we've achieved first gas for our Fast LNG 1 unit, a major milestone for our project and the world of LNG," the company said on social media.

Next step in the company's schedule is to start exports. Natural gas for Altamira's first liquefaction train will come from the Sur de Texas-Tuxpan pipeline from Texas.

Two more trains have been planned as part of the $1.3 billion project, which counts Mexico's state-owned power utility CFE as a participant.

Mexico currently imports LNG and depends on the United States for most of its natural gas needs. NFE's project is set to be Mexico's first plant to produce and export LNG.

A total of nine onshore and floating LNG facilities are planned in Mexico, both on the Gulf and Pacific coasts, which will mostly process U.S. gas

(Reuters - Reporting by Marianna Parraga; editing by Gary McWilliams)