mazmessenger.com
BlackRock Infrastructure
Investment Group, within BlackRock Alternative Investors, a division of
BlackRock, Inc., an American multinational
investment
management corporation, and First Reserve, the largest global private
equity investment firm exclusively focused on energy, have agreed to acquire
about 45 percent stake in two Mexican natural gas pipelines, owned by
state-owned oil company Petróleos Mexicanos (Pemex).
The two investors have agreed to
invest an estimated $900 million to fund the construction of the pipeline Los
Ramones II.
The terms of the deal commit
BlackRock to invest $4.6 billion and First Reserve to invest $30 million over
the next 25 years. In return they will receive a combined 45 percent control of
the project.
The first part of this project,
the Ramones I, ranges from Eagle Ford in Texas to Los Ramones, Nuevo León and
phase II will reach Guanajuato to supply the central and western parts of the
country.
This agreement is the first
major midstream agreement sponsored by Pemex with foreign capital since the
approval of México’s Constitutional Energy Reform in 2013.
Pemex CEO Emilio Lozoya said
with this investment by two reputable financial firms, the Energy Reform becomes
a step closer to materializing into an economic driver for the
country.
(from Eagle Ford
Shale)
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