Pemex and NFE resuming development of the Lakach field

After six years of standstill, Pemex has inked a letter of intent (LOI) with New Fortress Energy (NFE) to resume development of the Lakach gas field offshore Mexico. An additional US$1.5bn amount will be required for resumption of activities, pushing CAPEX up to US$2.9bn.

Through Pemex, the Lakach project will provide natural gas to the Mexican market. NFE, meanwhile, will use the field for the production and exportation of liquefied natural gas (LNG)

For the next two years, NFE will complete seven wells and install an FLNG unit with capacity for 1.4 milliont tonnes per annum (mtpa) of LNG.

Production at Lakach is expected to start in July 2023.

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