- Construction of underground 786 BCF natural gas storage facility to be first in Mexico
- Engineering designs completed for bi-directional natural gas pipelines between Mexico and U.S.
- Overall demand for natural gas in Mexico expected to grow by 22 percent over next 15 years
Mirage Energy Corp. (OTC: MRGE), a natural gas storage and pipeline company based in Texas, intends to construct a first-of-its-kind massive underground natural gas storage facility with connecting bi-directional transmission pipelines in Mexico. The company has completed the engineering designs and schematics for the transmission pipelines that will run from various border locations in Texas to the company’s storage facility in Mexico. The company and its wholly owned subsidiaries are in the process of applying for and obtaining the necessary permits from the associated regulatory agencies in Mexico and the United States.
Mirage Energy Corp.’s underground natural gas storage facility will, for the first time, give Mexico the ability to balance peak loads by consumers, play price arbitrage on natural gas and create a Mexico Natural Gas hub for gas pricing and stability. The identified facility is a depleted natural gas reservoir with the ability to store 786 billion cubic feet (BCF) of natural gas. The first phase of the project includes construction of an initial storage field with capacity set to house 52 BCF of natural gas (http://dtn.fm/sE5Dp).
The project includes four 36-inch bi-directional transmission pipelines that vary in length from 27 miles to 95 miles, with two of the transmission lines boring underneath the Rio Grande. The pipelines, which are engineered to move 500 million cubic feet per day, will be used to inject natural gas into the company’s storage field and then to extract the fuel which can then be delivered to various customers in Mexico.
Recent reforms in Mexico’s electricity sector, intended to reduce government controls and create a more competitive market by opening it up to private investment, are expected to help the country build out its energy infrastructure and stabilize prices (http://dtn.fm/DN0Yk). Much of Mexico’s electricity is generated by natural gas-powered plants, and the bulk of that natural gas is imported from the United States, giving companies like Mirage Energy Corp. and their investors significant opportunities to benefit from the country’s booming natural gas market.
For more information, visit the company’s website at www.MirageEnergyCorp.com