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Mexican power company CFE says pipeline firms agree to renegotiate

MEXICO CITY, July 2 (Reuters) - The head of Mexico’s national power company CFE said on Tuesday that he has met with companies involved in a natural gas pipeline dispute that has escalated towards international arbitration and that they agreed to renegotiate the contracts

Manuel Bartlett, the CFE’s director, speaking at a news conference in Mexico City, added that the companies, which include Canada’s TC Energy Corp, had sought international arbitration before Mexico had.

The CFE is seeking to negotiate “fairer” terms for a number of pipeline contracts signed by the previous government which President Andres Manuel Lopez Obrador has questioned, suggesting they may have been too costly for the state. (Reporting by Abraham Gonzalez)