González Calvillo advised on the deal
Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), plans to develop, build and operate a receipt, storage and send-out liquid fuels marine terminal at the La Jovita Energy Hub in Ensenada, Mexico.
With an expected investment of approximately $130 million, the new Baja Refinados liquid fuels terminal will have an initial storage capacity of 1 million barrels of gasoline and diesel that will increase the fuel supply capacity and reliability in Baja California. The Marine terminal is expected to commence operations in the second half of 2020.
IEnova also announced it has signed a long-term contract with Chevron Combustibles de México S. de R.L. de C.V for approximately 50 percent of the facility’s storage and send-out capacity to supply Chevron service stations and other commercial and industrial consumers in Baja California. Chevron will have the option to acquire 20-percent equity ownership of the facility after commercial operations begin.
IEnova will be responsible for the development of the liquid fuels terminal project, including obtaining permits, engineering, procurement, construction and financing, as well as maintenance and operations.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2017 revenues of more than $11 billion. The Sempra Energy companies’ approximately 20,000 employees serve more than 40 million consumers worldwide.
González Calvillo advised Chevron Corporation with Jorge Cervantes (Picture) and Antonio De Lisi.
Law Firms: Gonzalez Calvillo Abogados;
Clients: Chevron Corporation;