Despite a recent slowdown over the last year in the broader
Mexican energy and infrastructure sectors, the pace of development
and financing of refined products import, storage and transport
infrastructure has remained strong. According to Platt’s, 16 new private refined product
terminals are expected to come online in 2020, more than double the
number operating in mid-2019. By the end of the year, total
combined private terminal capacity is projected to quintuple 2019
levels to 19.8 million barrels. Overall, an estimated 38 privately
sponsored projects representing 25 million barrels are in some
stage of development.
This investment concentration in refined products import,
storage and transport projects addresses a key infrastructure issue
for Mexico. The Mexican economy is fueled by a razor-thin margin of
refined product storage (not to mention storage for natural gas and
crude oil). Cut off gasoline imports and domestic refining, and
filling stations across
