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CONOCOPHILLIPS

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ConocoPhillips : Mexico Pacific Limited Announces Collaboration with ConocoPhillips LNG Licensing and Bechtel to Champion Low Carbon LNG

10/25/2021 | 02:14pm EST

Mexico Pacific Limited LLC ("MPL"), developer of a North American LNG export project
("MPL LNG Project") based in Puerto Libertad, Sonora, Mexico, announced today that it has
entered into a collaboration agreement with ConocoPhillips LNG Licensing LLC and Bechtel,
working with Techint S.A. de C.V., to advance the global energy transition and to assist in
lowering greenhouse gas emissions by pursuing innovative lower carbon LNG design solutions
for the MPL LNG Project future phases. The MPL LNG Project was chosen as the greenfield
project for this world class initiative.

Download .PDF

HOUSTON - October 25, 2021 -- The MPL LNG Project's strategic location on the West Coast of Mexico will, by itself, result in lower greenhouse gas emissions due to shorter transit to Asian markets as compared to many other Gulf of Mexico and Pacific Basin LNG producers in addition to lower greenhouse gas emissions resulting from the use of leading technologies. The collaboration will seek to further reduce baseline emissions by exploring energy transition and greenhouse gas emission reduction technologies developed by ConocoPhillips LNG Licensing and designed by Bechtel in a cost efficient and competitive manner.

This collaborative relationship brings together LNG industry market leaders in technology, design, construction, and operation of LNG facilities to leverage one of the most advantaged and competitive North American greenfield projects as a catalyst for the future of low carbon LNG production.

"LNG plays a significant role in the global energy transition," said Douglas Shanda, Chief Executive Officer and President of MPL. "We are constantly evolving our business strategies to further reduce our carbon footprint, and this cutting-edge initiative provides opportunities to reduce greenhouse gas emissions by seeking to curtail the production of emissions, rather than just capturing or reporting them. We are honored to partner with this world-class LNG team as we do our collective part to address climate change."

"ConocoPhillips is pleased to support MPL and Bechtel in designing LNG trains for the MPL LNG Project based on the high efficiency OCP Pro™ technology that includes our latest low carbon design and operating features," said Mike Culligan, manager of ConocoPhillips LNG Technology and Licensing.

"MPL represents an excellent opportunity for ConocoPhillips to work closely with a west coast North American LNG developer to provide carbon-advantaged gas feedstock from our growing Permian Basin gas supply and assist MPL in developing a commercial strategy for supplying carbon neutral LNG in the future," said Tom Mathiasmeier, president of Global Gas, Power and LNG at ConocoPhillips.

"LNG plays an important role in the global energy transition to lower carbon solutions, and Bechtel is proud of its historical and ongoing participation in the LNG industry. The MPL LNG Project will be a great example of how we, along with our customers and technology providers, can continue to supply LNG to offset traditional high emission fuels such as coal and others while developing and applying real innovations to meet the environmental goals of the industry," said Paul Marsden, Bechtel Energy President.

About Mexico Pacific Limited LLC

MPL's anchor project, the MPL LNG Project, is an advanced stage 14.1 mtpa West Coast North American LNG export facility located in Puerto Libertad, Sonora, Mexico. The MPL LNG Project achieves significant cost and logistical advantages, including the lowest North American landed LNG price into Asia through access to prolific natural gas supply in the Permian Basin, as well as its ability to provide a shorter shipping route and avoid Panama Canal transit for Asian markets. More information can be found at http://www.mexicopacificlimited.com.

About ConocoPhillips

Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $85 billion of total assets, and approximately 10,100 employees as of June 30, 2021. Production excluding Libya averaged 1,518 MBOED for the six months ended June 30, 2021, and proved reserves were 4.5 BBOE as of Dec. 31, 2020. For more information, go to http://www.conocophillips.com.

OCP Pro™ is a trademark of the ConocoPhillips Company. ConocoPhillips LNG Licensing LLC is a wholly-owned subsidiary of ConocoPhillips.

About Bechtel

Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers' objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.

Bechtel serves the Energy; Infrastructure; Nuclear, Security & Environmental; and Mining & Metals markets. Our services span from initial planning and investment, through start-up and operations.

http://www.bechtel.com

Media Contacts

Faith Parker
fparker@mexicopacificlimited.com

Dennis Nuss
dennis.nuss@conocophillips.com
281-293-1149

CONOCOPHILLIPS CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as "anticipate," "estimate," "believe," "budget," "continue," "could," "intend," "may," "plan," "potential," "predict," "seek," "should," "will," "would," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words can be used to identify forward-looking statements. Forward-looking statements are based on certain assumptions and expectations of future events which may or may not be accurate or realized, and involve risks and uncertainties, many of which are beyond ConocoPhillips' control. A discussion of factors that may affect future results is included in ConocoPhillips' filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Disclaimer

ConocoPhillips Company published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 18:13:13 UTC.


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