trending Market Intelligence /marketintelligence/en/news-insights/trending/DA6s9SXvaO4a0zQL9RCaGw2 content esgSubNav
In This List

Report: Mexico strikes renegotiation deal for gas pipeline contracts

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Report: Mexico strikes renegotiation deal for gas pipeline contracts

The Mexican government struck an agreement with energy companies that would resolve ongoing conflicts over natural gas pipeline contracts, Reuters reported Aug. 27.

The government and state-owned utility Comisión Federal de Electricidad, or CFE, announced the deal to renegotiate the contract terms will decrease fees paid by Mexico for shipping gas and save the government $4.5 billion, according to the Reuters article. The CFE said the anticipated savings should be seen in contrast to the original contracts' cost to the utility of $12 billion.

The deal included Mexico's Grupo Carso SAB de CV, Canada's TC Energy Corp., and Sempra Energy unit Infraestructura Energetica Nova SAB de CV, or IEnova, according to the report.

Sempra on Aug. 27 welcomed the agreement. "Sempra Energy is pleased that IEnova was able to reach a mutually agreeable resolution to the contracts with CFE on these important pipelines," the company said in a statement. "The Sur de Texas-Tuxpan and Guaymas-El Oro pipelines are among Mexico's most important infrastructure projects, bringing more reliable supplies of clean U.S. natural gas to Mexico to help meet the growing energy needs of the country for generations to come."