IEnova Acquires Pemex's Participation in Los Ramones II Norte Pipeline
IEnova , Sempra Energy’s Mexican subsidiary, will increase its indirect participation in Los Ramones II Norte pipeline to 50 percent from 25 percent, after acquiring Pemex Transformación Industrial's participation in Ductos y Energeticos del Norte for approximately $520 million.
This pending acquisition aligns with IEnova’s commitment to building new energy infrastructure in Mexico, and strengthens its position as a leader in natural gas transportation in the country.
The approximately 452-km, 42-inch diameter pipeline began operations in February 2016 and transports natural gas from Nuevo Leon to San Luis Potosí in central Mexico. It has a designed transportation capacity of 1.42 billion cubic feet per day and two compressor stations. Los Ramones II Norte interconnects with Los Ramones I pipeline and Los Ramones II Sur pipeline.
The transaction is expected to close in the fourth quarter 2017, once the required authorizations have been obtained, including approval from Mexico’s Federal Antitrust Commission.