Mercuria is very pleased to announce that it has signed a memorandum of understanding with Pemex (MGS) to form a joint venture which will import US natural gas into Mexico. The gas will be imported by pipeline. The joint venture will begin operations in the fourth quarter 2014.
Mercuria is very excited about this opportunity to work together with Mexico in the energy reform process. We believe that this partnership will help to ensure the long term reliable supply of natural gas to Mexico at competitive prices.
Mercuria is in the process of purchasing the physical commodities business from J.P. Morgan. We believe that with the acquisition of the J.P. Morgan physical gas business, Mercuria, with its people and assets, is now well placed to contribute to develop an integrated gas market within North America.
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