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CGGC Signs an EPC Contract for Storage and Distribution Terminal Project of Petroleum in Mexico
Date:2019-12-01 VisitCount: Font size:[ L M S ]

On November 25, CGGC International and AGILIDAD, a company engaged in oil and gas transportation infrastructure, signed an EPC contract for the Storage and Distribution Terminal Project of Petroleum in  Colima State, Mexico. The successful signing of the contract represents another important achievement of CGGC in its expansion of the Mexican market and advancement of the "going global" strategy for oil and gas business after the New Industrial Park in Zacatecas in Mexico. The project will inject a new impetus into the building of the "Belt and Road" initiative between China and Latin America.

Project Location

The project is to build onshore and offshore oil and gas reserves, transmission pipeline facilities, railway connecting lines and station facilities as well as oil and gas transfer stations in Colima, Mexico. The project caters for the needs of Mexico's national oil and gas strategy. After completion, it will significantly increase the oil and gas storage capacity of Colima and west central Mexico, provide oil and gas supply and transmission services for neighboring federal states, alleviate local shortage of energy, and provide services for international large oil and gas customers including China.

Project Rendering

In the context of global macro-situation adjustment, CGGC has vigorously carried out structural adjustment, transformation and upgrading, and continued to develop new business growth points. CGGC International has fully played a leading role in international business development of the group, actively practiced the group's overall arrangement for professional transformation and promoted non-power business such as oil and gas, petrochemical services to "go global" with high quality. In 2017, the group entered the Russian market successfully and signed a contract for the Amur gas processing plant project worth RMB 10 billion yuan. Now the project is being implemented smoothly, and has received high praise.

Latin America is a natural extension of the 21st Century Maritime Silk Road, an important participant of the "Belt and Road" initiative and a key region where CGGC conducts its international business. The group has signed contracts of about 10 billion US dollars in total, involving such fields as power, water conservancy, highways, municipal administration and new energy. Mexico, as an important member of Latin America, is a major country in the Latin American market where CGGC strengthens its presence. The signing of the project is an important achievement of CGGC in giving play to its professional technical strength in the oil and gas field, investment and financing capabilities and layout advantages in the Latin American market, strengthening strategic cooperation with large domestic enterprises specialized in oil and gas and realizing rolling development in the Mexican market.

With rich experience in oil, gas storage, transportation, infrastructure and trade, the owner of the project AGILIDAD has developed a number of oil and gas projects and had great influence in the oil and gas resource market in Mexico. As an EPC contractor of the project, CGGC International will give full play to its technical and management advantages and strengthen resource allocation and localized management, to build the project into a model of win-win cooperation between China and Mexico for mutual benefits.

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