Green light for more US LNG to non-free trade agre...
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International Resources Holding (IRH), the Abu Dhabi-based natural resources investment platform and a subsidiary of 2PointZero Group, has struck a multi-year liquefied natural gas (LNG) supply deal with Amigo LNG, a Mexican joint venture between Texas-based Epcilon LNG and Singapore’s LNG Alliance, which is developing an LNG export terminal in Guaymas, Sonora, on Mexico’s West Coast.
International Resources Holding has signed a 20- year LNG sale and purchase agreement (SPA) with Mexico’s Amigo LNG, securing long-term LNG supply to support growing global energy demand at a time when global markets are feeling the effects of the ongoing conflict in the Middle East.
Ali Rashed Al Rashdi, CEO of International Resources Holding, commented: “This agreement marks an important milestone in strengthening IRH Global Trading’s long-term LNG portfolio. By securing competitively priced Pacific Basin supply, we are enhancing the resilience and diversification of our global trading platform while expanding our ability to serve key growth markets.
“As a company headquartered in the UAE, this partnership also reflects our commitment to supporting the country’s growing role as a global energy and trading hub, while building strategic relationships that contribute to the future of international energy markets.”
IRH will buy 1 million tonnes per annum (mtpa) of LNG from the Amigo LNG export project in Guaymas, with deliveries expected to begin when the project’s liquefaction train enters commercial operations in the second half of 2028.
Al Rashdi added: “Mexico’s west coast offers a structurally resilient LNG supply route to Asia that is not dependent on major maritime chokepoints such as the Panama Canal. By partnering with Amigo LNG, we are helping strengthen global energy security while ensuring competitive and dependable LNG supply for international markets.”
The deal is interpreted to strengthen the firm’s strategy of securing reliable LNG supply from geographically diversified sources. This LNG project provides direct shipping access to Asian markets without relying on the Panama Canal.
This is perceived to avoid a key global shipping bottleneck and enable highly competitive LNG delivery costs into Asia. Mexico is increasingly emerging as a strategic LNG energy hub, offering Pacific access, which can help diversify global supply routes and enhance energy security for international buyers.
Dr. Muthu Chezhian, CEO of Amigo LNG, said: “This agreement highlights the growing role Mexico can play in strengthening global LNG supply chains.
“By connecting Mexico’s Pacific coast with world-class energy partners such as IRH, we are establishing efficient new LNG supply routes that strengthen global energy security and support long-term demand.”
The Amigo LNG export facility is designed to export up to 7.8 million tonnes per annum of LNG. A few months after the project’s 20-year sales and purchase agreement with Sahara Group, Gunvor sealed a deal to buy 0.85 mtpa of LNG for 20 years from the first liquefaction train.
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