France’s Total has signed an agreement with Tuxpan Port Terminal and Monterra Energy to become the anchor customer of the Tuxpan International Fluids Terminal (TIFT), a refined oil products terminal in Mexico.
Total, through its subsidiary Total Atlantic Trading Mexico, will have the largest capacity in this terminal, strategically located on the shores of the State of Veracruz.
The Tuxpan Terminal is set to start operations in the second semester of 2020.
With important storage capacity and better access to the Mexican market, Total will directly provide its high-quality refined products, mainly diesel and gasoline, to customers with improved continuity, reliability and competitiveness.
"The large capacity committed by the Group, combined with the competitive advantages of the terminal, will allow Total and its network of service stations to develop a leading role in the fuel retail market in Mexico City and the Valley of Mexico," stated Isabelle Gaildraud, senior vice president for Americas at Total Marketing & Services.
Total has partnered with Gasored since October 2017 and has opened more than 100 service stations over the last year, in line with its initial planning. This network will reach 250 Total-branded service stations by the end of 2019, with the objective to reach more than 400 stations by the end of 2020.