Sempra Energy’s IEnova Unit, Valero Sign Contracts For Liquid Fuels Projects In Mexico


Akin Gump Strauss Hauer & Feld and Baker McKenzie advised on the deal

Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V., signed long-term contracts with a subsidiary of Valero Energy Corp. for the storage capacity of the liquid fuels marine terminal to be constructed in Veracruz and two inland storage facilities to be constructed in Puebla and Mexico City.

The three liquid fuels projects represent an estimated capital investment of U.S. $275 million. These facilities are IEnova’s first ventures in Mexico’s emerging $10 billion liquids market.

Akin Gump advised Valero Energy and Valero Marketing y Abastecimiento de México, S.A. de C.V. with Gabriel Procaccini (Picture), Paul Greening, Alison L. Chen, Eduardo Canales, Kitty Y.C. Ng and Jason Zhao.

Involved fees earner: Gabriel Procaccini – Akin Gump; Paul Greening – Akin Gump; Eduardo Canales – Akin Gump; Kitty Y.C. Ng – Akin Gump; Jason Zhao – Akin Gump;

Law Firms: Akin Gump;

Clients: Valero Energy; Valero Marketing y Abastecimiento de México, S.A. de C.V.;

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Author: Michael Patrini