What is the significance of Costa Azul’s first LNG cargo shipment, and where is the cargo headed?

Costa Azul’s first LNG cargo marks the commercial launch of Mexico’s 3.25 million tonnes per annum (mtpa) Energia Costa Azul export project, with the 174,000 cbm vessel Pacific Success departing overnight after loading — confirmed by its draught increase to 11.5 metres. The vessel is chartered to TotalEnergies, which holds a 16.6% stake in Train 1 of the project; however, it is currently signalling ‘For Orders’ via onboard AIS with no specific destination disclosed. The plant, operated by US-based Sempra Infrastructure on Mexico’s Pacific coast, enables direct exports to Asia without transiting the Panama Canal — avoiding scheduling backlogs and transit fees. First LNG production occurred on 4 June, and this milestone contributes to new global LNG supply coming online in 2024 alongside projects like LNG Canada Train 2, Corpus Christi Midscale Trains 5–7, and Congo Nguya FLNG.

How does the Costa Azul project fit into broader 2024–2026 global LNG supply trends, according to ICIS?

According to the latest ICIS analysis cited in the article, Costa Azul’s start-up — along with other new projects launched or ramped up in 2024 — has partially offset the loss of Qatari LNG exports via the Strait of Hormuz, especially due to delays in Qatar’s 32 mtpa North Field East project, whose first train was originally expected by end-2026. As a result, total global LNG supply across 2026 is now projected to be around 440 million tonnes — flat compared to 2025 — down from earlier expectations of ~470 million tonnes at the start of the year. This reflects how new capacity from projects like Costa Azul (3.25 mtpa), LNG Canada Train 2 (7 mtpa), Corpus Christi Midscale Trains 5–7 (4.5 mtpa), and Congo Nguya FLNG (2.4 mtpa) is helping stabilize supply amid upstream delays elsewhere.

Mexico’s Costa Azul Exports First LNG Cargo – ICIS Data

Jul 8, 2026

Mexico's Energia Costa Azul project shipped its first LNG cargo aboard the Pacific Success, operated by Sempra Infrastructure. This milestone adds new export capacity to offset potential supply losses from Qatar.

icis

2026-07-08

Mexico’s Costa Azul Exports First LNG Cargo – ICIS Data

Mexico’s Costa Azul Exports First LNG Cargo – ICIS Data

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