Mexico sues former state power company executives over Texas gas deal

Mexico sues former state power company executives over Texas gas deal

A man walks past the logo of Mexico’s state-owned electricity company, known as the Federal Electricity Commission, or CFE in its Spanish acronym, outside its headquarters in Mexico City August 6, 2013. REUTERS/Henry Romero/File Photo

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HOUSTON, Sept 21 (Reuters) – Mexico’s state-owned energy company filed a breach of contract lawsuit in Texas state court on Wednesday against former US subsidiary executives, alleging they wrongfully entered into a lucrative gas deal.

The lawsuit, filed by a division of the Comision Federal de Electricidad (CFE), comes amid efforts by Mexican President Andrés Manuel López Obrador to renegotiate energy deals that he says disadvantage CFE and state oil company Petroleos de Mexico. Mexico has disputes with US companies worth about $30 billion. read more

Guillermo Turrent and Javier Gutierrez, two former top managers of CFE International, were awarded contracts with Texas-based WhiteWater Midstream LLC to build a pipeline and gas supply, resulting in hundreds of millions of dollars in damages to the company, alleges a lawsuit filed in the county of the county Harris. court in Houston.

The two misled the CFE board by failing to disclose previous business relationships with WhiteWater executives, CFE claims. The lawsuit seeks damages of at least $1 million.

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Reporting by Gary McWilliams; editing by Jonathan Oatis

Our standards: Thomson Reuters Trust Principles.

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