Mexico natural gas prices dropped to $3.61/MMBtu in March after soaring to $21.37/MMBtu in February, according to the latest IPGN monthly natural gas price index published by the Comisión Reguladora de Energía (CRE).

Mexico imports

The prices, however, were higher compared with March 2020, when the CRE reported prices of $2.22/MMBtu. The February prices reflected freezing weather in Texas and natural gas disruptions that impacted flows to Mexico.

The CRE used 278 transactions from information provided by 30 marketers to calculate the March index. The industrial northeast reported the highest volume of transactions at 2.183 Bcf/d.

Volumes in March rose to 6.602 Bcf/d compared to the February figure of 5.54 Bcf/d and 5.572 Bcf/d last March.

Meanwhile higher than forecasted gas imports...