OREANDA-NEWS. Mitsui & Co., Ltd. have entered into an MOU with Mexican state owned oil company Petroleos Mexicanos ("PEMEX") under the witness of Mexican President Enrique Pena Nieto. The MOU sets forth the scope of cooperation and discussion among the parties about the energy projects including natural gas.

Mitsui has been expanding its activities in the Mexican natural gas industry and it is operating an LNG receiving terminal project at pacific coast Manzanillo, 6 gas fired power projects in various places in Mexico and a natural gas distribution business in major cities such as Mexico City and Monterrey through its stake in the largest distribution company in Mexico, Gas Natural Mexico.

It is expected that the demand for the natural gas in Mexico shall continue to increase supported by the development of the shale gas projects in the US and Mexico and also by the stable growth of the Mexican economy. Through the cooperation with Pemex and realization of the natural gas infrastructure and supply projects, Mitsui continues to contribute to the development of Mexico.