FC reached for Mexican gas pipelines

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FC reached for Mexican gas pipelines

Carso Energy, Energy Transfer Partners and MasTec Inc have closed US$1.15 billion in project financing for two Mexican gas pipelines projects.

The lenders are The Bank of Tokyo Mitsubishi / MUFG, Sumitomo Mitsui Banking Corp. (SMBC), BBVA Bancomer and Mizuho Bank Ltd.

The 42-inch pipelines will both originate at the Waha energy storage and transit hub west of Odessa, Texas. The projects involve the development and construction of the Waha-San Elizario and Waha-Presidio natural gas pipeline projects to carry gas for Mexico’s National Electricity Commission (CFE). 

A US$508 financing package covered the Waha-San Elizario gas pipeline and a US$647 million financing deal was used for the Waha-Presidio natural gas pipeline.

Shearman & Sterling advised Energy Transfer Partners, MasTec and Carso Energy, as sponsors. Milbank, Tweed, Hadley & McCloy LLP advised the lenders in the deal.

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