The Federal Electricity Commission initiated proceedings against IEnova and TC Energía -formerly TransCanada- for the construction of the Texas-Tuxpan gas pipeline, demanding the nullity of some clauses of the natural gas transportation service contracts with private companies.

Photo: Staff Oil & Gas Magazine

In a statement sent to the Mexican Stock Exchange (BMV), IEnova detailed that on June 24, the CFE presented a request for arbitration before IMG, a request to initiate arbitration through which it demands the nullity of certain clauses of the contract. of transportation services, which refer to the responsibility of the parties in events of fortuitous events and force majeure, as well as the reimbursement of capacity payments related to said events that the CFE initially recognized under the contract and that it now considers improper, among others.

IEnova did not detail the amount that the Federal Electricity Commission requests reimbursement. The companies are analyzing the content of the arbitration and its legal basis. Although the construction of the marine gas pipeline was completed on June 11, it has not yet begun operations, since the CFE has not yet issued a certificate of acceptance with the start date of commercial operation.

The marine gas pipeline was a work tendered in the last six years with a value close to 2.5 billion dollars. The purpose of this project was to increase the import capacity of natural gas from the southern United States to central and southern Mexico by up to 40 percent.

The Canadian ambassador to Mexico, Pierre Alarie, considered that the CFE's decision may put investments at risk:

“I am deeply concerned by the recent actions of the CFE and by the signal they send that, despite the statements of Andrés Manuel López Obrador, Mexico does not wish to respect gas pipeline contracts.”

For his part, President López Obrador stated that what is sought is an agreement that does not affect public finances:

“What is being done is legal and seeking to reach an agreement because we consider that it was an abuse that those contracts that affect public finances have been made.”

According to specialists, arbitrations are requested due to disagreement in a particular clause, not for the entire contract. The arbitration request compromises the commercial relationship between the countries and affects the T-MEC ratification process. The Federal Electricity Commission has 10 business days to give the green light to the commercial operation of the pipeline, a deadline that expires on July 5.

Elaborado por CAINTRA, con información de: El Financiero, El Economista, El Norte. Oil & Gas Magazine, TC Energía, El País: