The Caribbean nation looks to reduce its dependence on expensive, imported liquid fuel.
The ruling by Brazilian supreme court judge Dias Toffoli overturns a December 2015 decision allowing Cemig to temporarily maintain the concession, pending the outcome of conciliation talks with the federal government.
The two banks said they will potentially set up a credit line for the development of such projects in Mexico.
The Argentine government and the International Energy Agency are to strengthen ties as the South American country prepares to assume the G20 presidency in 2018.
Energy consultant Leigh Bolton speaks to BNamericas about Latin America's growing need for natural gas and predicts the role of LNG in the future supply mix.
The infrastructure is for Baja California Sur state.