IEnova completes $1-billion purchase of Pemex’s stake in pipeline JV

Infraestructura Energetica Nova SAB de CV (IEnova), a Mexican subsidiary of Sempra Energy, San Diego, has completed its acquisition of Pemex Transformacion Industrial’s 50% equity interest in the Gasoductos de Chihuahua joint venture for $1.14 billion.

IEnova’s shares in the joint venture now increase to 100% from 50%. Pemex will retain 50% shareholder interest in the Ramones II Norte pipeline project through Ductos y Energeticos del Norte S de RL de CV.

The assets in the deal comprise three natural gas pipelines, an ethane pipeline, and a LPG pipeline, and associated storage terminal.

IEnova develops, builds, and operates energy infrastructure in Mexico. As of Dec. 31, 2015, the company had invested more than $4 billion in operating assets and projects under construction in the country.

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