Gasoducto de Morelos

Gasoducto de Morelos S.A.P.I. de C.V. operates as a natural gas transportation company with significant infrastructure in the central Mexican states of Tlaxcala, Puebla, and Morelos. The company originated from an international bidding process by Mexico's Federal Electricity Commission (CFE) in 2011, aimed at supplying natural gas to the Centro Combined Cycle Power Plant. The project, known as Proyecto Integral Morelos (PIM), initially involved a partnership between Spanish firms Elecnor and Enagás, who each held a 50% stake in the pipeline company formed on November 10, 2011. In late 2021, the global asset manager Macquarie Asset Management Americas acquired the pipeline and its operating company, Morelos O&M, for approximately $173.8 million, integrating it into its portfolio.

The core of the business is the transportation of natural gas through its pipeline, which spans 172 kilometers with a 30-inch diameter. This system has the capacity to move 337 million standard cubic feet per day (MMSCFD). The company's business model is centered on providing transportation services under a 25-year contract with the CFE, its primary client, to ensure a stable supply for electricity generation. Revenue is generated from these long-term transportation contracts. The company also offers specialized operation and maintenance services. Its primary delivery points are in Yecapixtla, Morelos, serving the CFE's Centro I power plant and a natural gas distributor in the state.

The pipeline is a critical piece of the broader Proyecto Integral Morelos, a major energy project that also includes two combined-cycle thermoelectric power plants in Huexca, Morelos, an aqueduct, and an electric transmission line. The pipeline itself starts in Tlaxcala, interconnecting with the national gas network owned by CENAGAS, and runs to Morelos. Construction was completed in 2015, and commercial operations began in 2016. The project was designed to support the expansion of the electricity sector and provide a reliable energy source for industrial, commercial, and residential use in the region.

Keywords: natural gas transportation, energy infrastructure, Mexico, pipeline operator, CFE supplier, Macquarie Asset Management, Proyecto Integral Morelos, Morelos pipeline, Tlaxcala, Puebla, energy sector, downstream gas, gasoducto, CENAGAS interconnection, energy logistics, utility infrastructure, long-term energy contract, O&M services, industrial energy supply, electricity generation fuel