[1/2] The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023.
REUTERS/Raquel Cunha/File Photo Acquire Licensing RightsMEXICO CITY, Nov 7 (Reuters) - Mexican state energy company Pemex and U.S. liquefied natural gas (LNG) company New Fortress Energy (NFE.O) have terminated a deal to develop potentially the country's first deepwater natural gas project that was signed a year ago, two sources with direct knowledge of the matter said.
Last month, Pemex decided to halt the project after NFE wanted to impose conditions Mexican officials considered unacceptable, including NFE buying the natural gas too cheaply from Pemex, one of the sources said.
Pemex wanted to develop Lakach with the U.S. company using a service contract, a mechanism used prior to the Mexico's energy sector opening in 2013-14.
Reuters previously reported that officials at the CNH and Pemex had been at odds over how to develop Lakach and other large fields.
Persons:
Raquel Cunha, Pemex, NFE, Lakach, Andres Manuel Lopez Obrador, Stefanie Eschenbacher, Ana Isabel Martinez, Mariana Parraga, Adriana Barrera, Dave Graham, Marguerita Choy
Organizations:
REUTERS, MEXICO CITY, New Fortress Energy, U.S, Reuters, U.S . Department of Energy, Thomson
Locations:
Mexico City, Mexico, MEXICO, Gulf of Mexico, Veracruz, Gulf, Tamaulipas, Altamira, Houston