UPDATE 2-TransCanada to build $2.1 bln gas pipeline in Mexico
* TransCanada to own 60 pct stake in project
* Sempra Energy unit to own remaining stake
* TransCanada to invest $1.3 bln in pipeline (Adds details on natural gas pipeline in Texas)
By Julie Gordon
June 13 (Reuters) - TransCanada Corp said it would build and operate a $2.1 billion natural gas pipeline in Mexico, as the Canadian company ramps up in the Latin American country at a time when its key projects closer to home are facing delays.
TransCanada said on Monday the Sur de Texas-Tuxpan pipeline project would be built through a joint venture with a unit of Sempra Energy and be backed by a 25-year transportation service contract with Mexico's state-owned power company.
TransCanada, which will own a 60 percent stake in the 800 kilometer (497 mile) pipeline and be its operator, will invest $1.3 billion in the project. Sempra's unit IEnova will hold the remaining stake.
Spectra Energy Corp said on Monday its unit won a contract to build and operate a $1.5 billion natural gas pipeline in Texas, which would connect to the Sur de Texas-Tuxpan pipeline in Mexico.
The unit, Valley Crossing Pipeline LLC, will build and operate the 1 billion cubic feet per day pipeline originating at Nueces County, Texas and extending to Brownsville, Texas. Continued...