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Natural gas prices in Mexico hit record lows for a second consecutive month in April, according to the IPGN monthly natural gas price index published by the Comisión Reguladora de Energía (CRE).
Marketers reported an average price of 51.938 pesos/gigajoule (GJ), or $2.88/MMBtu, making April the first month for which the IPGN has fallen below $3/MMBtu since its inaugural publication in July 2017.
CRE used 243 transactions reported by 18 companies for a total volume of 5.683 Bcf/d to calculate the latest IPGN, with nine atypical transactions excluded from the formula. This compares with 180 deals from 20 companies for 4.886 Bcf/d a year ago, with five atypical transactions excluded.
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