Mexico natural gas prices jumped to $3.74/MMBtu in May compared to April prices of $3.38 and year-ago prices of $2.37, according to the latest IPGN monthly index published by the Comisión Reguladora de Energía (CRE).

Guadalajara prices

The May prices were the highest monthly prices reported in Mexico in the last 12 months, with the exception of February, when prices soared tenfold because of the freakish cold snap in Texas.

The CRE used 357 transactions from information provided by 33 marketers to calculate the May index. Volumes in April rose to 7.128 Bcf/d compared to 6.745 Bcf/d in April and 4.481 Bcf/d in May 2020.

The number of deals, marketers and volumes reported in May was the highest recorded in the past 12 months.

The industrial northeast reported the highest volume of...