Altamira Announced First LNG Shipment from Mexico to Europe

SEATTLE (Oil Monster): On October 15, 2024, LNG carrier Energos Princess unloaded the first shipment of liquefied natural gas (LNG) exported by Mexico to Europe at the Netherland’s Gate terminal. With this export, Mexico has joined the European LNG market through its Altamira project, owned by New Fortress Energy. The ship carried about 59,000 metric tons of LNG.

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The first export represents a significant milestone for New Fortress Energy and the Mexican energy sector. Analysts predict that this will lead to the construction of more liquefaction facilities in Mexico in the upcoming years, which will stimulate the local economy and increase the export potential of the South American country. By 2050, analysts project a rise in demand for gas from Mexico's western and northwest areas.

In late August of this year, the U.S. Department of Energy (DoE) approved a permit for New Fortress to export LNG to nations that do not have free trade agreements with the United States.

Started in 2021, the Altamira Project is the result of years of research and development into applications of FLNG (Floating Liquefied Natural Gas) technology. It is founded in collaboration with CFE, the state-owned power company in Mexico. Gas supplied by the TC Energy-operated Sur de Texas-Tuxpan marine pipeline will be liquefied as part of this project.