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Zenith Energy to develop storage, distribution assets in Mexico

International liquids and bulk terminaling company Zenith Energy LP reached an agreement with Cemex S.A.B. de C.V., a multinational building materials company, to market and develop existing oil storage and distribution assets in Mexico to support an increasing demand for oil products.

The agreement allows Zenith to develop certain Cemex facilities in Mexico for fuel and LPG storage and distribution, according to a Jan. 25 news release. Cemex has over 90 storage and distribution locations, most of which are connected to the Mexican railroad network, many with unit train capability.

"We are excited to announce this initiative at this important time in Mexico's ongoing energy reform. We see a growing number of promising opportunities to invest in the country's developing midstream sector, particularly with the ability to utilize existing assets in key distribution markets inside the country," said Jeffrey Armstrong, CEO of Zenith.

Cemex's business activities in Mexico will not be affected by the planned developments.