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NGI MEXICO GPI
INFRASTRUCTURE | MEXICO | NGI ALL NEWS ACCESS | SHALE DAILY
Mexico Lagging Behind Peer Markets in Natural Gas Storage, Report Warns
BY ANDREW BAKER
April 22, 2024
Mexico’s next government must invest in natural gas storage and pipeline infrastructure in order to keep up with rising demand and meet energy transition goals, according to a new report by the Instituto Mexicano Para la Competitividad (IMCO) think tank.
Mexico is the world’s eighth largest natural gas market, with demand in excess of 8 Bcf/d. However, its natural gas storage capacity is a fraction of that of similar sized markets such as Germany or Italy, researchers said.
Despite the widespread global use of underground gas storage in depleted reservoirs, confined aquifers and salt caverns, Mexico only stores gas in its liquid form at the Altamira, Ensenada and Manzanillo liquefied natural gas import terminals, “which have limited capacity,” the IMCO team said in a report titled, Proposals for the Energy We Want 2024-2030.
The policy roadmap comes ahead of Mexico’s general election scheduled for June 2. Claudia Sheinbaum, a close ally of current President Andrés Manuel López Obrador, is heavily favored to win.
The IMCO authors cited that Mexico is only able to store about 2.4 days’ worth of gas consumption, while Germany – which consumes nearly the same amount of gas – boasts 89 days’ worth.
Despite multiple announcements of plans to develop storage capacity, little progress has been made, IMCO said.
Mexico’s Centro Nacional de Control del Gas Natural (Cenagas), operator of the Sistrangas pipeline grid, said last year it planned to launch a tender to develop storage capacity at the depleted Jaf natural gas field in Veracruz state.
More recently, state power company Comisión Federal de Electricidad (CFE) said it was seeking bids to develop underground storage capacity in South Texas. Mexico imports about 71% of its gas supply from the United States.
In addition to storage capacity, Mexico “requires more pipeline infrastructure to transport natural gas throughout the country,” researchers said. They cited long-delayed projects such as the Tuxpan-Tula pipeline, originally slated to enter service in 2017, but remains incomplete due to local opposition.
“In the foreseeable future, natural gas will remain a key fuel for industrial activities in Mexico, as well as a pillar of the electric generation mix,” researchers said. “Therefore, it is indispensable to guarantee its uninterrupted supply through more investments in pipelines and to implement a storage policy that allows the country to gradually approach the days of inventory of countries like Germany, Austria, Spain, France or Italy.”
The authors also stressed the importance of shoring up natural gas supply to southeastern Mexico through projects such as the Southeast Gateway offshore pipeline. CFE and Engie SA also reached an agreement last month to double the capacity of the Mayakán pipeline serving the Yucatán Peninsula.
In terms of gas supply, Mexico could increase its domestic production “without risking public resources” by resuming upstream bid rounds, which President Andrés Manuel López Obrador halted upon taking office in 2018, the IMCO team said.
IMCO suggested not replacing U.S. gas imports in the short-term, “but rather to gradually increase the production platform so that in the medium term, the country is in a better position to face climatic events without putting energy security at risk.”
© 2024 Natural Gas Intelligence. All rights reserved.
ISSN © 2577-9877 | ISSN © 2577-9966 | ISSN © 2158-8023
Related topics: Infrastructure Mexico natural gas storage
ANDREW BAKER
@abakerNGI
andrew.baker@naturalgasintel.com
https://www.naturalgasintel.com/mexico-lagging-behind-peer-markets-in-natural-gas-storage-report-warns/
CMW selling PPs to chumps at age 8
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Announced Projects:
1) CENOTE ENERGY S. de R. L. de C. V. (Subsidiary of Mirage) - Burgos Hub Storage & Natural Gas Pipeline, a US-Mexico development consisting of cross-border transportation and the first underground natural gas storage facility in the country of Mexico. When fully developed, Mirage’s natural gas storage facility will be the largest natural gas storage facility on the North American continent.
2) WPF MEXICO PIPELINES S. de R. L. de C. V. (Subsidiary of Mirage) - SAN FERNANDO/CACTUS. 42" diameter pipeline interconnected to proposed storage facility with interconnects to Station #19 and Los Ramones all on Mexico's National Pipeline System. Including interconnecting and rehabilitating a existing 48" pipeline running all the way to the Isthmus Corridor thus bringing abundant supply of natural gas to the southern region of Mexico. Approximately 1000 miles.
3) NORTHERN HEMISPHERE LOGISTICS, S. A. P. I. de C. V. (Co-Ownership with Mirage) - ISTHMUS CORRIDOR. Includes rehabilitating dock facilities at Coatzacoalcos Veracruz on the Gulf of Mexico side with new monobouys. Rehabilitating 30" & 48" lines running from Coatzacoalcos to Salina Cruz Oaxaca, dock and monobouys in the Pacific side, this including the pumping stations along the track and tankage on both side of the Isthmus.
4) MIRAGE ENERGY CORPORATION - Announces it has signed an agreement with ENERGY AGENCY OF THE STATE OF PUEBLA to develop a pipeline infrastructure project to deliver natural gas to the state and various industrial parks with in the state. This includes the delivery of 500 mmbtupd of natural gas thru this pipeline project. Total estimates cost for development of this project is expected to be s $300 million USD.
========= Projected revenues of all projects have been estimated at $1.5 - $2.5 Billion with Net Income ranging from $500 Million to $1+ Billion ==========
(See chart at the bottom for potential share price scenarios using these estimates)
June 5, 2023
MIRAGE ENERGY CORPORATION AND ITS SUBSIDARIES, ANNOUNCE THE SIGNING OF A BINDING MOU AGREEMENT FOR THE DEVELOPMENT/TRANSPORTATION WITH GRUPO CONSTRUCTOR HERMED, S.A. DE C.V.
MIRAGE ENERGY CORPORATION (OTC PINK: MRGE) and its subsidaries announces it has signed a binding Joint Venture Development Agreement/ Transportation Agreement and off-take agreement.
This agreement BETWEEN Mirage and Grupo Constructor Hermed, S.A. de C.V. is for the development of three projects Mirage and its subsidaries have been devoting time and money.
June 16, 2020
Mirage Energy Corporation and Northern Hemisphere Logistics, Inc. Sign $4 Billion Debt Financing With Bluebell International, LLC for Development of Three Projects Including Pipelines, Natural Gas Storage and Isthmus Corridor Project
Mirage gets 25% ownership in multi-billion dollar projects WITH ZERO DEBT
https://www.globenewswire.com/news-release/2020/06/17/2049382/0/en/Mirage-Energy-Corporation-and-Northern-Hemisphere-Logistics-Inc-Sign-4-Billion-Debt-Financing-With-Bluebell-International-LLC-for-Development-of-Three-Projects-Including-Pipelines-.html
Mirage Energy Corporation Signs Agreement with Northern Hemisphere Logistics, S. A. P. I. de C. V. To Participate in the Development of the Isthmus Corridor Project
March 16, 2020
https://www.otcmarkets.com/stock/MRGE/news/story?e&id=1553878
June 11, 2020
Mirage Energy Corporation Signs Agreement with the Newly Formed Energy Administration of the State of Puebla for Development of Pipelines
https://www.otcmarkets.com/stock/MRGE/news/story?e&id=1623065
May 20, 2020
Mirage Energy Corporation/Northern Hemisphere Logistics, S. A. P. I. de C. V. Signs Agreement with Mexico Labor Union "El Sindicato National De Infraestructura" for the Support and Cooperation on Respective Projects for Each Company
https://www.otcmarkets.com/stock/MRGE/news/story?e&id=1607525
October 8, 2019
Mirage Energy Corporation Wholly Owned Subsidiary, WPF Transmission, Inc., Announces the Signing of an Interconnect Agreement With Whistler Pipeline LLC.
https://www.globenewswire.com/news-release/2019/10/08/1926360/0/en/Mirage-Energy-Corporation-Wholly-Owned-Subsidiary-WPF-Transmission-Inc-Announces-the-Signing-of-an-Interconnect-Agreement-With-Whistler-Pipeline-LLC.html
MOU announced with a billion dollar company, (TrailStone NA Asset Holdings, LLC):
https://finance.yahoo.com/news/mirage-energy-enters-mou-reserved-120000683.html
Trailstone is a subsidiary of Riverstone, "Riverstone is an energy and power-focused private investment firm with $38 billion of capital raised":
https://www.riverstonellc.com
Advantages of Isthmus project = Worldwide implications = HUGE $$$ saved
(from board member: PennyStockTrader2)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=156268062
The following table is a reference to how one might come up with PPS for Mirage. There are obviously a lot of variables here, but since PPS is often talked about in terms of PE ratio, I thought I would use that as a guide.
I assumed the outstanding count would climb to around 650 million, where 200 mill preferred shares are held by the CEO and not traded, and so I also did a calculation based on 450 million also.
The worst case scenario in the table is 200 mill net earnings and a P/E ratio = 10, yielding a $3 stock. I say worst case in light of P/E ratio where ratios of other midstream pipeline companies.
June 24, 2021
https://mexicobusiness.news/energy/news/natural-gas-storage-remains-do-list
US-based Mirage Energy discussed a 786Bcf storage project with MBN last year. With a capacity as large as this, the project would immediately become the largest single natural gas storage facility in North America. “We are not developing this only as a strategic reserve but as a commercial operation of which industrial players can benefit,” said CEO Michael Ward. As of June 2020, funding for the project has been secured. Now, all Mexico’s government would need to do is give it a green light.
October 5, 2021
Mirage Energy Corporation Pays Off Debt To Power Up Lending
https://www.accesswire.com/666888/Mirage-Energy-Corporation-Pays-Off-Debt-To-Power-Up-Lending
SAN ANTONIO, TX / ACCESSWIRE / October 5, 2021 / MIRAGE ENERGY CORPORATION (OTC PINK:MRGE) announces it has paid off its debt to Power Up Lending as of October 2, 2021. This should be a stabilizing factor to our stock. Furthermore, Mirage no longer has any overhanging notes to affect our market.
Mirage continues to move forward on our US/MEXICO projects with great success being made on all fronts. We are looking forward to closing on these in the very near future.
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