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US and Mexico defuse pipeline dispute

Monday, August 26, 2019


The administration of Mexican President Andrés Manuel López Obrador has reached a preliminary agreement with four private energy companies to resolve a months-long conflict over natural-gas-pipeline contracts.

Under the terms of the agreement, which could be announced as early as tomorrow, Mexico will pay higher fees to ship gas through the pipelines for the next 10 years, but ultimately will realize nominal savings of about $600 million, the Wall Street Journal reports.