The 3 Week Diet System

Tuesday, July 28, 2015

New Mexican gas pipeline secures $820million funding

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July 28:

A major new 465km natural gas pipeline in Mexico has received a $820million funding package.
The pipeline, constructed by Mexico’s Fermaca, will extend between Chihuahua and Durango and will deliver natural gas originating from United States.
The La Laguna Pipeline project, stretching for 465 kilometers (289 miles) between El Encino in the state of Chihuahua and La Laguna in Durango, will connect a pair of power plants owned by Comisión Federal de Electricidad (CFE), Mexico’s state-owned electric company.
The project will carry natural gas originating from Texas and supply power plants in northern Mexico with an alternative energy source to fuel oil.
The pipeline, which will have a transportation capacity of 1,500 MMscfd, is expected to be operational in the first half of 2017.
Financing, arranged by will go towards design, construction and operation.
The La Laguna project is the latest major US-Mexico pipeline financing handled by New York law firm Milbank, Tweed, Hadley & McCloy.
In recent years, the firm represented lenders in funding the construction of the 120-mile Agua Dulce natural gas pipeline from Texas to Mexico and a 237-mile natural gas transmission pipeline in the Mexican state of Chihuahua.
The joint lead arrangers represented by Milbank consisted of Citigroup, ING, NordLB, Banco Santander, Sabadell and Goldman Sachs.
Milbank partner Dan Bartfeld said: “Mexico continues to make major strides in its energy infrastructure and the La Laguna Pipeline promises to help bring energy to the northern part of the country.”


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1 comment:

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