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IEnova completes acquisition

Published by
World Pipelines,

Sempra Energy has confirmed that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), has completed its acquisition of PEMEX Transformación Industrial's 50% equity interest in the Gasoductos de Chihuahua joint venture. The deal is said to be worth approximately US$1.14 billion.

Mexico's antitrust commission (the Comisión Federal de Competencia Económica) authorised the transaction on 15 September.

IEnova's shares in the joint venture now increase from 50% to 100%. PEMEX will retain 50% shareholder interest in the Ramones II Norte pipeline project through Ductos y Energéticos del Norte, R.L. de C.V.

Included in the transaction is three natural gas pipelines, an ethane pipeline and a liquid petroleum gas pipeline and associated storage terminal.

Adapted from press release by Anna Nicklin

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