By OGJ editors
HOUSTON, Nov. 4 -- Mitsui & Co. Ltd. signed an agreement with Royal Dutch/Shell Group to acquire a 25% equity stake in the Altamria LNG regasification terminal project. Terms of the transaction were not outlined.
If approved by Mexican authorities, the transaction will mean that interest holders in the LNG terminal will be Shell Gas BV 50%, Total SA 25%, and Mitsui 25%.
Terminal de LNG de Altamira S de RL de CV is to be built near Port of Altamira on the eastern coast of Mexico near Tampico and is expected to start operating during the fourth quarter of 2006.
All of the terminal regasification capacity continues to be contracted to a separate marketing company, Gas del Litoral, owned by Shell, 75%, and Total, 25%. The Comisión Federal de Electricidad awarded Gas del Litoral a contract to supply 5 billion cu m/year of natural gas from the regasification terminal for 15 years starting in October 2006 (Dec. 19, 2003, OGJ Online).
