MEXICO CITY Mexicos
state-owned oil company Petróleos Mexicanos SA de CV
(Pemex) has signed a memorandum of understanding with
Japans Mitsui & Co. Ltd. to construct a natural gas
pipeline in the United States.
The $460-million project will
allow the import of 770 million cubic feet per day of natural
gas from the country, Pemex said on its website April 9, noting
that the gas will come "at a cost substantially lower" than is
currently available in Mexico.
No details were given about the
location of the pipeline or the time frame for its
Pemex and Mitsui will also
"explore the possibility" of building another pipeline, which
would cost about $800 million, Pemex added.
"Mexico means a lot, because it
is one of the eight countries in the world selected for our
group," Masami Iijima, president and chief executive officer of
Mitsui, said in the statement.
A version of this article was
first published by AMM sister publication Steel First.