In Mexico’s natural gas industry, an incipient open market coexists with an energy policy of ambiguous messages, and an operational context in which business opportunities don’t appear to reward those who take risks.

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process.

Such is the case of natural gas marketing in Mexico. Once a central activity in the design resulting from the energy reform of 2014, the marketing segment in fall of 2022 does not have conducive conditions for growth. This fact is lamentable not only because the added value from gas sales is concentrated in the hands of a few, but for the loss of...