4th Feb 2025 11:17
(Alliance News) - VH Global Energy Infrastructure PLC on Tuesday said it does not expect the flow of slurry from Mexico to Texas to be impacted by impending potential tariffs between the US and Mexico.
The London-based investor in energy infrastructure, formerly known as VH Global Sustainable Energy Opportunities PLC, said it expects the potential negative financial impact of tariffs on the customer revenue and business of the terminal assets to be low.
President Trump on Saturday issued three executive orders, setting tariffs on imports from Canada, Mexico and China. Both the Canadian and Mexican tariffs have subsequently been delayed for a month.
The company said it does not expect the flow of residual slurry into the Port of Brownsville Foreign Trade Zone in Texas to be impacted by the tariffs.
It said customer contracts manage risk and include minimum volume commitments regardless of throughput through the terminals.
The firm said if the Mexican national energy company PEMEX chooses an alternative end coking facility outside the US, in light of the tariffs, it would still use the terminal before shipping the product from the Port of Brownsville.
VH Global noted that the scope of the tariffs remains unclear, and further detail is required to understand the breadth of products that may be affected.
VH Global Energy Infrastructure shares were up 5.0% to 53.50 pence in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
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