STX Group, a South Korean business group, said Friday that it and Petroleos Mexicanos (Pemex) have agreed to cooperate on a liquefied natural gas terminal project in Mexico.
STX will be involved in building LNG terminals and transportation in Mexico, while Pemex, Mexico's state oil producer, imports LNG into the North American country.
In February this year, STX Heavy Industries Co. won a US$700 million order to build an LNG terminal with 3.8 million tonnes of annual capacity in Mexico.