Mexico’s CFE International LLC (CFEi) is suing two of its former executives in a Texas court in relation to natural gas contracts awarded to a U.S. firm.

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CFEi is the international fuel procurement arm of state electricity firm Comisión Federal de Electricidad (CFE), and among the largest natural gas marketers in North America.

CFEi is alleging that under the previous government, former executives “awarded billions of dollars of unnecessary and overpriced natural gas supply and pipeline contracts” to WhiteWater Midstream LLC through non-competitive processes, and in violation of the executives’ fiduciary duties to CFEi.

The executives allegedly failed to disclose personal and professional ties to Austin, TX-based WhiteWater’s management team.

WhiteWater, which is...