Mexico Pacific Limited (MPL), a North American LNG export project based on the West Coast of Mexico has appointed Mitsubishi UFJ Financial Group (MUFG) as Financial Advisor.
Headquartered in Japan, MUFG is one of the world’s largest publicly traded financial institutions and has ranked as Top Global Initial Mandated Lead Arranger in the Project Finance International Loan League Table for eight consecutive years.
“MPL is pleased to be working with MUFG and we believe they are well positioned to assist MPL due to their longstanding market-leading position in project finance, recent and relevant experience structuring and leading project financing transactions in the Americas, extensive knowledge of project financing in Mexico, and unparalleled expertise in the global LNG market,” said Douglas Shanda, President and CEO of MPL.
“With its breadth of knowledge and experience and strong relationships with leading lenders and investors globally, MUFG’s appointment represents another important milestone in MPL’s aggressive advancement to FID.”
MPL is a Pacific Coast North American liquefaction facility that has substantial cost and logistical advantages versus US facilities serving the Pacific Basin. MPL is permitted for up to 12 MTPA of LNG and targets the initial construction of 4 MTPA using modular LNG technology.
“The MUFG team looks forward to helping MPL commercialise and finance its 12 million-tonnes-per-annum Pacific Coast LNG terminal,” said Erik Codrington, Managing Director and Head of Structured Finance in the Americas at MUFG.
“We believe MPL is a uniquely advantaged project with direct Pacific Ocean access, connectivity into low cost US gas producing basins, deep water access, and a best-in-class management team.”