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Mexico Real Estate: Mexico to Build $11 Billion Gas Pipeline

13 September, 2012

Mexican president Felipe Calderon announced
this week that the government plans to invest more than $11 billion in private
and public money to build eight natural gas pipelines and local distribution
networks. The pipelines will span more than 2,800 miles and will be completed
within the next seven years.

“A total of some $8 billion
will be invested in the gas pipelines,while another $3 billion will be spent
to expand industrial and domestic gas distribution networks,” said Calderon at a
ceremony in Mexico's northwestern state of Sonora this week. “The new investment outlays
will increase the length of Mexico's current natural gas pipeline by 40
percent.”

In October of 2011 Mexico announced that it
had discovered large shale gas deposits in some of its northern and eastern
states that could increase the country's natural gas reserves by up to six
times its current holdings. Calderon revealed at the ceremony that experts have
predicted that Mexico could hold the fourth largest shale gas reserves in the
world,leading to the government's decision to build the new pipelines.

The
new gas pipelines in Mexico will be comprised of one section running between
the cities of Manzanillo and Guadalajara in the western part of the country,
and another that will run between the state of Puebla and Morelos,where a new
electric power station is also scheduled for construction. In fact,the former
pipeline between Manzanillo and Guadalajara is already nearing completion and
is scheduled to be fully operational in the near future. In addition,a new gas
pipeline will stretch between existing power plants in central Mexico,
including Tamazunchale,San Luis Potosi,El Sauz and Queretaro. Finally new
pipelines will run through the northern areas of Chihuahua,Nuevo Leon,
Sinaloa,Sonora and Zacatecas,while another will stretch southeast into the
Yucatan.

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