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Mexico's CFE wins contract arbitration case against Texas gas supplier
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Mexico's CFE wins contract arbitration case against Texas gas supplier
Jun 7, 2024 3:24 PM

HOUSTON, June 7 (Reuters) - Mexican state utility

Comision Federal de Electricidad (CFE) need not pay a Texas

natural gas supplier's claim for hundreds of millions of dollars

stemming from the huge spike in gas pricing during a deadly

winter storm, an international arbitration panel ruled.

Severe cold during 2021's Winter storm Uri pushed U.S.

natural gas prices to record highs as demand soared and wells

and pipelines froze shut. Suppliers passed along the huge price

increases to their customers, resulting in dozens of lawsuits.

A Houston arbitration panel last month rejected WhiteWater

Midstream LLC's claims against CFE, and awarded the state power

utility undisclosed damages, fees and costs, according to a

document filed on Wednesday in U.S. District Court, Houston.

An attorney and a media spokesperson representing Austin,

Texas-based WhiteWater declined immediate comment.

CFE's separate breach of contract lawsuit against former

executives Guillermo Turrent and Javier Gutierrez, who awarded

the contract to Whitewater, remains pending. An attorney for

Turrent and Gutierrez did not respond to requests for comment.

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