US, Mexico firms sign $1bn energy deal

The US and Mexico have signed an agreement to invest $1 billion (£0.7bn) in energy projects. Mexico’s state oil company Pemex and US private equity firm First Reserve said the […]

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By Priyanka Shrestha

The US and Mexico have signed an agreement to invest $1 billion (£0.7bn) in energy projects.

Mexico’s state oil company Pemex and US private equity firm First Reserve said the cash would be invested in projects including infrastructure, sea transport and processing, in Mexico.

The two companies recently announced the first of such investments – the Los Ramones project – which is expected to consist of 744 kilometres of natural gas pipelines running from Texas to Mexico.

William Macaulay, Chairman and Co-CEO of First Reserve said: “First Reserve looks forward to mutually exploring multiple investment opportunities throughout the country’s vast energy value chain on behalf of our investors and the country of Mexico.”