Mirage Energy secures Mexico pipeline, storage financing

Mirage Energy Corp. and Northern Hemisphere Logistics Inc. have secured funding for development of natural gas pipelines and 786 bcf of underground storage, both focused on moving natural gas produced in the US to Mexico, and the Isthmus Corridor liquids transportation project. Mirage signed a $4-billion debt facility with Bluebell International LLC.

The pipeline, interconnected to WhiteWater’s Whistler line, would move gas through a new 42-in. OD line to be built from Agua Dulce-Banquette hub in Texas to the border at Progreso, Tex., and into Mexico. From there, natural gas could be stored at the new underground site or sent to Compressor Station #19 on Mexico’s national Sistrangas system. The pipeline and storage together comprise Mirage 1 – Burgos Hub Storage & Natural Gas Pipeline.

An already operating 42-in. OD line to Los Ramones would interconnect to the 48-in. OD San Fernando-Cactus line (Mirage 2) and bring natural gas from Reynosa, Mexico, to Nuevo Pemex processing center in Tabasco State and the neighboring Yucatan Peninsula.

Mirage says its natural gas storage site will be the largest in North America and will give Mexico a 6-month supply of gas once filled.

The Isthmus Corridor project consists of 30-in. and 48-in. OD pipelines as well as storage sites in Mexico connecting the Port of Pajaritos on the Gulf of Mexico side of the country to Salina Cruz on the Pacific side. The pipelines would deliver crude oil and refined products from the US to Asia, Mexico, and the west coast of the US as an alternative to the Panama Canal or Cape Horn routes.

Northern Hemisphere hired Mirage to participate in development of the Isthmus Corridor project in earlier this year (OGJ Online, Mar. 19, 2020).