CFE requests arbitration over force majeure charges related to multiple pipeline service delays

摘要

Grupo Carso disclosed Thursday it is the third company to receive anarbitration request from Mexico state power utility CFE for natural gastransportation contracts considered abusive by President Andres ManuelLopez Obrador. Similar arbitration requests also were sent to TC Pipelinesand IEnova regarding contracts on other delayed pipeline projects.The arbitration requests call for the cancellation of certain forcemajeure clauses that require payments during service delays.President Andres Manuel Lopez Obrador said during his dailymorning press conference that many of these gas pipelinetransportation contracts signed by CFE are abusive and one-sided.CFE is paying five to eight times more on fixed capacity payments thanthe original cost of building the gas pipelines, Lopez Obrador said. “If apipeline cost $1 billion… We are talking about up to $5 billion [in fixedcapacity payments],” he added.