LatinFinance - July/August 2015 - 28
ENERGY
MIDSTREAM
Energy transportation companies and the world's largest investment firms are eager to
play leading roles in the development of Mexico's pipeline network as the country focuses
on natural gas in a bid to fuel economic growth. By Eduardo García
Opportunity
knocking
28 L ATINFINA NCE.COM - July/August 2015
iStockphoto
M
exico's plans are lofty.
It aims to increase the size of its natural gas
pipeline grid by around 50% in the next five
years to bring the cheaper fuel to the center
and western parts of the country, where it
will feed power plants and industrial areas
and, ultimately, economic growth.
The centerpiece of the strategy is a handful of large-scale projects that include Los
Ramones, an 850-kilometer pipeline controlled by Pemex that will transport natural
gas from the US to Mexico. The pipeline
is divided in two major sections, Los Ramones I and II, and is the cornerstone of
Mexico's plans to transform its energy grid.
"This is a key project for Pemex and also
for the country because it will allow us to
provide cheap energy to the center of the
country where most of the economic activity is performed," says Mario Beauregard,
Pemex's chief financial officer. "These are
the kind of projects that will allow us to
reduce energy prices in the midterm here
in Mexico and those are the projects we are
concentrating on."
The government of President Enrique
Peña Nieto has won praise for a far-reaching
energy reform that has put an end to
Pemex's monopoly, opening the hydrocar-
IN THE PIPELINE: international players
are circling billions of dollars of Mexican
midstream projects
bons sector to private investors. But Pemex
will continue playing a crucial role in the
industry, especially in upstream and downstream businesses.
Opening the midstream operations to
foreign investors can also create a lot of
value for the company, says Beauregard, either by monetizing some assets or through
tie-ups with private investors to build new
infrastructure. First Reserve in March
announced that it had joined BlackRock to
acquire a 45% stake in Los Ramones II for
$900 million.
"If there is something that Pemex has
accumulated, along 77 years of being a monopoly, are assets throughout the country.
So, we have a very good opportunity now to
get a lot of value from these assets by accepting private sector participation in these
activities," Beauregard tells LatinFinance.
http://www.LATINFINANCE.COM
Table of Contents for the Digital Edition of LatinFinance - July/August 2015
Contents
LatinFinance - July/August 2015 - Cover1
LatinFinance - July/August 2015 - Cover2
LatinFinance - July/August 2015 - Contents
LatinFinance - July/August 2015 - 2
LatinFinance - July/August 2015 - 3
LatinFinance - July/August 2015 - 4
LatinFinance - July/August 2015 - 5
LatinFinance - July/August 2015 - 6
LatinFinance - July/August 2015 - 7
LatinFinance - July/August 2015 - 8
LatinFinance - July/August 2015 - 9
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LatinFinance - July/August 2015 - Cover4
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