The Federal Economic Competition Commission (COFECE) of Mexico has objected to an agreement reached in August 2015 by Mexican state-owned oil and gas company Pemex and IEnova, a subsidiary of US group Sempra Energy, for the sale of Pemex's 50% stake in the pipeline company Gasoductos de Chihuahua for US$1,325m. The COFECE said that Pemex had not sold its stake in an LPG pipeline and in the San Fernando gas pipeline, which had been required by the previous anti-trust authority.
Pemex and IEnova will restructure their agreement to meet COFECE's requirements, so that IEnova could acquire Pemex's stakes in Gasoductos de Chihuahua, excluding the assets signalled by the COFECE. Upon completion of the transaction, IEnova would be the sole owner of the company.
Gasoductos de Chihuahua owns three gas pipelines in the northern state of Chihuahua, including part of the Los Ramones gas interconnection with the United States, an ethane pipeline, an LPG pipeline and an LPG storage terminal. Pemex will retain its stake in a separate joint venture, Ductos y Energeticos del Norte, that is currently building an extension phase of the Los Ramones pipeline.