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.