CRE okays new Altamira fuel storage terminal

Mexico's energy regulator CRE permitted US maritime infrastructure firm Cooper/T. Smith to store liquid fuels in Altamira port, Tamaulipas state. The 480,000b project requires an investment of 1.34bn pesos (US$70mn).

Notably, the permit is the first under new rules that expand the hydrocarbons storage zone in Altamira port and simplify the application process.

In the first half of the year, 2.83Mt of liquids, principally styrene, propane, caustic soda, methane, cyclohexane, biodiesel, toluene and acetone moved through the port, a 35% increase year-over-year.

Cooper/T. Smith is the second firm to receive CRE approval for an Altamira fuel storage and distribution terminal, after Avant Energy's 1.1Mb operational capacity project.

A third project in the pipeline in Altamira is Valero's 950,000b storage which has been announced but not yet approved.

In its latest session, the CRE also issued storage permits to Gasoductos Servicios Corporativos, IEnova Gas and Huasteca Fuel Terminal.

Mexico currently has three days of gasoline reserves which it hopes to increase to five days by 2020 and 10 to 13 days by 2025.