Mirage Energy Corp (MRGE)

[MoneyMike1]

Wanted to point out how long it took Engie to reach an agreement with the CFE to expand the Mayakan pipeline.

Look at these revisions on the Global Energy Monitor Wiki:

Revision as of 15:48, 10 September 2019 (Acess it here.)

Expansion Background:

A proposed expansion of the pipeline would extend it by 99 miles (62 km) from Valladolid into the province of Quintana Roo. It is scheduled to be completed in 2020.[2]

There have been no development updates since 2017 and the project is presumed to be shelved.

Revision as of 19:56, 9 July 2021 (Access it here.)

Expansion Background:

The proposed US$300 million Phase I expansion, also known as Cuxtal-Mayakan Phase II[5][7], would extend the pipeline by 99 miles (159 km) from Valladolid into the province of Quintana Roo.[6] The expansion would increase the transport capacity of the Energía Mayakan pipeline and the adjacent Cuxtal Gas Pipeline to 350 mmcf/d by 2020.[5]

An additional expansion phase, known as Mayakan expansion Phase II or Cuxtal-Mayakan Phase III[7], would increase capacity of both pipelines to 550 mmcf/d by 2022.[5]

Energía Mayakan still refers to these expansion plans on its company website.[4] However, there have been no development updates since 2017 and the expansion project is presumed to be shelved.

But then things started to look a tiny bit more hopeful.

Revision as of 01:46, 15 July 2022 (Access it here.)

Expansion Background:

The proposed US$300 million Phase I expansion, also known as Cuxtal-Mayakan Phase II[5][8], would extend the pipeline by 99 miles (159 km) from Valladolid into the province of Quintana Roo.[6] The Phase I expansion, originally scheduled for completion by 2020, would increase the transport capacity of the Energía Mayakan pipeline and the adjacent Cuxtal Gas Pipeline to 350 mmcf/d.[5]

An additional expansion phase, known as Mayakan expansion Phase II or Cuxtal-Mayakan Phase III[8], would increase capacity of both pipelines to 550 mmcf/d. the Phase II expansion was originally scheduled for completion by 2022.[5]

As of July 2022, there had been no further development of either expansion plan. However, in May 2022 Engie's COO Ana Laura Ludlow confirmed that her company remained committed to expanding the Mayakan pipeline pending approval from Mexico's CFE (Mexico's federal electricity commission).[9]

Then on November 29, 2022 we saw this article on naturalgasintel talking about how Engie and CFE had reached an agreement. https://www.naturalgasintel.com/cfe-engie-expanding-mayakan-natural-gas-pipeline-in-mexicos-southeast/

Just goes to show, you absolutely HAVE to have patience, and plenty of it when doing business with Mexico. Does any of this sound familiar? There had been no updates for years. People counted them out and thought the projects were dead. Many wondered why the projects were still mentioned on the company website. Then it came out that they were awaiting approval from the CFE. Then a half year after that, boom they reached an agreement when few were expecting it. Who's to say this couldn't happen with us?