The 2018 election of Andrés Manuel López Obrador as president of Mexico signaled tough times for private sector energy investment south of the U.S. border, as the nationalist wanted to prioritize his country’s own state energy companies. Yet, as recent deals show, there is still a need for financing and M&A for existing energy assets. This bodes well for Latin America practices, which are heavy on project finance and on advising extractive industries as they eye leftist leadership in countries such as Colombia.

MEXICO

The owner of Mexico’s first privately run undersea pipeline has enlisted partners from White & Case to advise on $1.56 billion in refinancing for the Sur de Texas-Tuxpan natural gas pipeline. The pipeline connects southern Texas, in the U.S., with the Mexican states of Tamaulipas and Veracruz along the Gulf of Mexico.