September 17, 2019 |
Mexico's state-owned power utility company CFE said it has saved $672m by renegotiating two natural gas pipeline concession contracts with Fermaca.
The CFE reached similar agreements with three pipeline operators — Grupo Carso, IEnova and TCEnergy — in late August, saving around $4.5bn, but Fermaca was the sole holdout.
The latest deal saves the federal utility company from having to take Fermaca to court, President Andrés Manuel López Obrador said last week. "We have secured gas at a good price
Mexico's state-owned utility saves $670m by renegotiating two natural gas pipeline concession contracts