San Antonio’s Mirage Energy announced Wednesday it has signed a $4 billion debt facility with the Bluebell International LLC for the development of natural gas pipelines, underground natural gas storage and the Isthmus Corridor Project.
The company’s pipeline, interconnected with Whitewater Whistler, provides an inexpensive natural gas supply for Mexico through a new 42-inch pipeline to be built from Agua Dulce/Banquette Hub to Progresso then into Mexico.
When fully developed, Mirage’s natural gas storage facility will be the largest natural gas storage facility on the North American continent with the ability to hold 786BCF of natural gas, giving Mexico a six-month supply in the event natural gas is interrupted – a strategic asset for the country.
The Isthmus Corridor project consists of a series of pipelines and storage facilities in Mexico connecting the Port of Pajaritos on the Gulf of Mexico side to Salina Cruz on the Pacific side.
The pipelines aim to provide a faster, more economical means of delivering crude oil and refined products from the U.S. to Asia, Mexico and the west coast of the U.S. Compared to using the Panama Canal or the Cape Horn route. Using this route saves 36 days of true shipping time to Asia, the company said.
“One of the biggest problems in oil and gas transportation is the logistical dilemma posed by Supertankers that cannot fit through the Panama Canal, thereby reducing access to the Pacific Ocean or forcing them to take the hazardous and expensive journey around Cape Horn,” said Michael Ward, Mirage Energy CEO in a media release.