Sempra Energy said Sept. 21 its Mexican subsidiary, Ienova, has received antitrust clearance to buy a 50 percent equity interest in pipeline builder and operator Gasoductos de Chihuahua.
Under a deal approved by the Comisión Federal de Competencia Económica, the subsidiary also known as Infraestructura Energética Nova S.A.B. de C.V. will pay government-owned petroleum company Pemex $1.1 billion. Assets in the transaction include three natural gas pipelines, an ethane pipeline, a liquid petroleum gas pipeline and an associated storage terminal.
The purchase is expected to close later this month.
Ienova is one of Mexico’s largest private energy companies. It develops, builds and operates Mexican energy infrastructure.
San Diego-based Sempra is a Fortune 500 energy services holding company. Its 2015 revenues topped $10 billion.