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.

Mexico, a country with logistical advantages and an industrial economy, could see substantial economic benefits from nearshoring, or the relocation of operations by North American companies. Thanks to its geographical proximity, extensive network of trade agreements, macroeconomic stability, low cost of skilled labor and demographic composition, the north of the country has already consolidated investment opportunities in the manufacturing industry.

In the automotive and aerospace sectors, where North American integration is most palpable, there are also the...