Mexico Pacific announced the execution of two long-term Sales and Purchase Agreements (“SPAs”) with ExxonMobil LNG Asia Pacific (“EMLAP”) for the sale of a combined 2 million tonnes per annum (“MTPA”) of liquefied natural gas (“LNG”).

Under the SPAs, the ExxonMobil affiliate will purchase LNG on a free-on-board basis from the first two trains of Mexico Pacific’s anchor LNG export facility, Saguaro Energia LNG, located in Puerto Libertad, Sonora, Mexico over a 20-year term. ExxonMobil also has an option for 1 MTPA from Train 3.

“We are pleased to announce these long-term SPAs with ExxonMobil”, said Ivan Van der Walt, Chief Executive Officer of Mexico Pacific. “We have reached a critical point on contract volumes required for FID on our first two trains and will now shift focus to close contracting on the significant commercial momentum in place for a subsequent Train 3 FID. With natural gas playing a critical role in the quest for global energy security and the energy transition, we remain committed to supplying vital energy for decades. As we position for FID on the first two trains, we will also commence advanced engineering with Bechtel.”

“LNG has an important role to play in helping society reduce emissions by enabling the delivery of lower carbon energy,” said Peter Clarke, Senior Vice President of LNG for the ExxonMobil Upstream Company. “We look forward to working with Mexico Pacific to continue growing ExxonMobil’s LNG portfolio and deliver Permian natural gas to global markets.”

“Mexico Pacific is a strategic asset in our energy transition infrastructure portfolio”, said Wil VanLoh, Founder and CEO of Quantum Energy Partners, the controlling stakeholder of Mexico Pacific. “Mexico Pacific’s unparalleled project fundamentals and highly experienced leadership team have established it as a premier LNG solution for customers and Permian producers to provide reliable and cost-effective LNG to support the energy transition.”

About Mexico Pacific

Mexico Pacific’s anchor project, the Saguaro Energia LNG Facility, is a 3 train, 14.1 mtpa West Coast North American LNG export facility located in Puerto Libertad, Sonora, Mexico. The Saguaro Energia LNG Facility achieves significant cost and logistical advantages, including the lowest landed price of North American LNG into Asia, leveraging low-cost natural gas sourced from the nearby Permian Basin, and providing a significantly shorter shipping route that avoids Panama Canal transit for Asian markets. More information can be found at http://www.mexicopacific.com.

About Quantum Energy Partners

Founded in 1998, Quantum Energy Partners is a leading provider of private equity, credit, and venture capital to the global energy and energy transition industry, having managed together with its affiliates more than $19 billion in equity commitments since inception.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world.

In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.

With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050.