North American natural gas futures worked their way above $2.00/MMBtu this week amid tighter U.S. production and storage levels.

Mexico imports, meanwhile, of U.S. natural gas have started to hit their stride in the lead-up to summer.

Over the last 10 days, Mexico imported 7.38 Bcf/d of natural gas via pipeline from the United States, including a max flow of 7.80 Bcf last Thursday (April 25). April pipeline imports averaged 6.82 Bcf/d, versus 6.45 Bcf/d the previous month and 5.76 Bcf/d in April of last year. 

“The over 1 Bcf/d increase in demand compared to a year ago can most likely be attributed to the increase of nearshoring industrial demand and an increase in electricity consumption across all categories as well,” said NGI markets analyst Josiah...