Gasoducto de Morelos

What Gasoducto de Morelos does

Gasoducto de Morelos, S.A.P.I. de C.V. is a regulated natural gas pipeline transportation utility operating a single 172 km, 30-inch diameter pipeline with 337 MMSCFD operating capacity that runs through the Mexican states of Tlaxcala, Puebla, and Morelos. The asset was established following a 2011 international bidding process by Mexico's federal electricity utility CFE and commenced commercial operations in 2016; it is owned by Macquarie Asset Management Americas as part of its infrastructure portfolio. The company provides pipeline transportation services encompassing reception, quality and quantity measurement, and delivery of natural gas through 14 positions including two CENAGAS interconnection points (Tlaxco and Huejotzingo) and two delivery points in Yecapixtla, Morelos. Its largest customer is CFE's Centro I combined cycle power plant, which receives up to 320 MMSCFD via a dedicated delivery point under a long-term firm transportation contract; additional customers include the Morelos state distributor, ENERGAS under a 2023-2028 interruptible contract, and Gas Natural del Noroeste.

The company's revenue is generated through CRE-regulated transportation tariffs applied to firm capacity reservations, interruptible services, and secondary-market capacity transactions, with billing structured around multi-year take-or-pay style contracts. Beyond pure transportation, the company offers specialized operation and maintenance services on a turnkey basis and natural gas supply through alternative technologies. Distribution is conducted via direct pipeline delivery to contracted shippers, the CENAGAS national network interconnection, and an online commercial management system. Operating geographies are exclusively Mexican, with no global footprint claim. The company carries an 86/100 GRESB 2024 sustainability score and holds voluntary Volumetric Controls Certification; ESG, Netzero, and ISO 27001 certifications are in process as of 2024.

Name

Gasoducto de Morelos

Legal name

Gasoducto de Morelos, S.A.P.I. de C.V.

Website

https://gasoductodemorelos.com.mx

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Gasoducto de Morelos is a regulated natural gas pipeline transportation utility operating a 172 km, 337 MMSCFD pipeline in central Mexico, serving CFE's Centro I power plant, regional distributors, and shippers under CRE-regulated tariffs; owned by Macquarie Asset Management Americas.

Ownership category

akta.pro rank

Product category

Natural Gas Pipeline Transportation

NAICS

Pipeline Transportation of Natural Gas (4862), Natural Gas Distribution (2212), Natural Gas Distribution (22121)

SIC

Natural Gas Transmission (4922), Natural Gas Transmisison & Distribution (4923), Natural Gas Distribution (4924)

akta.pro primary industry

Natural Gas Pipeline Transportation (EUALADAB)

akta.pro secondary industries

Gas Mains (Distribution Pipelines) (EUAJABAA), Natural Gas Compressor Stations & Metering/Regulation Stations (TLAGAKAD), Service Lines, Connections & Customer Hookups (New Taps) (TLAGADAF)

Keywords

• Natural gas transportation
• Pipeline infrastructure services
• Regulated midstream gas
• Natural gas distribution
• Interconnection pipeline operations

Headquarters

HQ city

Miguel Hidalgo

HQ country

Mexico

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Natural Gas Transportation Services: Fee-based natural gas transportation through pipeline infrastructure. Revenue is generated through regulated transportation tariffs approved by CRE (Comisión Reguladora de Energía). The company provides transportation capacity reservation and interruptible services to shippers including long-term firm capacity contracts and shorter-term interruptible arrangements. Volume-based fees are charged based on reserved or actual transported quantities of natural gas.
2. Specialized O&M Services: Turnkey projects and specialized operation and maintenance services provided to clients as part of strategic service offerings
3. Secondary Market Capacity Trading: Capacity cession services allowing shippers to transfer contracted capacity rights through secondary market arrangements, with standardized procedures and contract templates

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Gasoducto de Morelos operates a 172 km, 30-inch diameter natural gas pipeline with 337 MMSCFD operating capacity running through the Mexican states of Tlaxcala, Puebla, and Morelos. The company transports natural gas from CENAGAS national pipeline interconnections to delivery points, providing quality and quantity measurement, and all operations necessary for product delivery to power plants and regional distributors.

Product overview

Gasoducto de Morelos operates as a natural gas pipeline transportation company with a single unified infrastructure asset: a 172 km pipeline with 30-inch diameter and 337 MMSCFD operating capacity. The company's core product is its Natural Gas Transportation Service, which encompasses pipeline transportation, quality and quantity measurement, and delivery operations. The pipeline runs through the Mexican states of Tlaxcala, Puebla, and Morelos, connecting with CENAGAS systems at two interconnection points and delivering gas to CFE's Centro I combined cycle power plant. Additional service offerings include Specialized Operation and Maintenance Services and Natural Gas Supply Services through other technologies. The company also provides an Electronic Bulletin Board system for regulatory disclosures and a Commercial Management System for capacity transactions.

Differentiator

Problem solved

Functional benefit

Products and services

• Natural Gas Transportation Service Pipeline transportation of natural gas including reception, measurement of quality and quantity, and all operations necessary for delivery. The service supplies CFE Centro I combined cycle power plant (up to 320 MMSCFD) and the State of Morelos distributor via two delivery points in Yecapixtla, Morelos, and connects with CENAGAS at two interconnections in Tlaxco and Huejotzingo.
• Specialized Operation and Maintenance Services

Quantifiable outcome

• 337 MMSCFD operating capacity
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and supporting.

• CENAGAS (Centro Nacional de Control del Gas Natural)coreStrategic or Co-development PartnerNational natural gas pipeline network operator. Gasoducto de Morelos has two interconnection points with CENAGAS infrastructure: Position 0 connects to 48 Zempoala-Santa Ana pipeline in Tlaxco, and Position 3 connects to 30 Minatitlán-Venta de Carpio pipeline in Huejotzingo.
• CFE (Comisión Federal de Electricidad)coreStrategic or Co-development PartnerMexico's federal electricity utility and largest power generator. Gasoducto de Morelos supplies natural gas to CFE Centro I combined cycle power plant via dedicated delivery point, delivering up to 320 MMSCFD. Long-term transportation contract in place.
• SafeStartsupportingTechnology or IntegrationAdvanced safety awareness and accident prevention program. SafeStart focuses on human factors contributing to accidents including four states (haste, frustration, fatigue, complacency) and four critical errors. Implemented company-wide in 2024.
• GRESBsupportingOthersGlobal ESG benchmark for real assets. Gasoducto de Morelos participates in GRESB assessment, achieving 86/100 score in 2024. Voluntary disclosure contributes to regulatory compliance, transparency, and sustainability communication.
• ASEA (Agencia de Seguridad, Energía y Ambiente)coreOthersMexican environmental and safety regulatory agency for the energy sector. Gasoducto de Morelos participates in forums organized by ASEA for sustainable sector management.
• Gobierno del Estado de PueblasupportingOthersState government of Puebla. Gasoducto de Morelos participates in energy and environmental forums organized by Puebla government. Collaborative social works projects in communities near pipeline route.
• Gas Natural del NoroestesupportingStrategic or Co-development PartnerListed as a strategic commercial partner in the natural gas sector. Collaborates on regional energy distribution initiatives.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Fermaca: Mexico's largest private natural gas pipeline operator, owning and operating multiple long-haul pipelines (e.g., Wahalajara, Villa de Reyes) under a CRE-regulated framework very similar to Gasoducto de Morelos. Directly comparable business model, regulatory environment, and customer base of CFE and industrial shippers.
• TC Energía (TC Energy) México: Operates the Tamazunchale and El Encino natural gas pipelines in Mexico under CRE-regulated tariffs, serving CFE power plants and industrial users. Directly comparable pipeline transportation business with similar CFE anchor contracts.
• Energía Mayakan: Operates the Mayakan natural gas pipeline serving the Yucatán Peninsula, supplying CFE power plants and industrial customers under a CRE-regulated framework. Closely analogous midstream pipeline business model with similar single-asset, CFE-anchored profile.
• Carso Energy (Grupo Carso): Carlos Slim-controlled energy infrastructure entity with natural gas pipeline and distribution assets in Mexico. Comparable CRE-regulated midstream pipeline operations and overlap in central-Mexico industrial supply.

Broad incumbents

• IEnova (Sempra Infrastructure): Subsidiary of Sempra Infrastructure and one of the largest private energy infrastructure operators in Mexico, with multiple natural gas pipelines, terminals, and power assets. Operates under the same CRE framework and serves overlapping CFE and industrial customers.
• Engie México: Diversified energy player with gas distribution, generation, and pipeline interests in Mexico. Overlaps with Gasoducto de Morelos in serving central-Mexico industrial and power-generation demand, but as part of a broader portfolio.

Regional players

• Promigas: Largest natural gas transporter and distributor in Colombia with a similar regulated pipeline transportation model. Useful regional comparable for asset-level economics, though it operates in a different Latin American regulatory jurisdiction.
• TGS (Transportadora de Gas del Sur): Argentina's largest natural gas pipeline operator with regulated transportation tariffs. Provides a Latin American comparable for valuation, tariff structure, and operational benchmarks applicable to a regulated midstream pipeline like Gasoducto de Morelos.

Emerging players

• New Fortress Energy: Develops LNG-to-power infrastructure and gas supply solutions in Mexico, including for CFE. Overlaps with Gasoducto de Morelos as a non-pipeline alternative gas supply path to Mexican power generation, competing for some of the same demand.

Others

• Vopak México: Operates storage terminals adjacent to Mexican pipeline infrastructure. Not a direct pipeline peer but a relevant ecosystem participant whose terminal assets complement pipeline transportation services similar to those of Gasoducto de Morelos.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gasoducto-de-morelos

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gasoducto de Morelos