Mexico

Mexico Natural Gas Market Turns Attention to Elections, Summer Demand – Spotlight

Mexico Natural Gas Market Turns Attention to Elections, Summer Demand – Spotlight

North American natural gas futures got a small boost this week on news of weaker production from U.S. operators, but by mid-week the momentum had fizzled. The May New York Mercantile Exchange gas futures contract posted a second day of losses and lost 6.7 cents on Thursday to settle at $1.774/MMBtu. Mexican imports of U.S.…

April 4, 2024
Mexico Nearshoring Dreams Face Multiple Headwinds, Report Finds

Mexico Nearshoring Dreams Face Multiple Headwinds, Report Finds

The nearshoring trend holds big potential for energy demand in Mexico, though numerous factors could hinder the country’s ambitions as a haven for big business relocation, according to new research published by Rice University’s Baker Institute for Public Policy.  Nearshoring refers to companies moving their production and supply chains from China to North America –…

April 3, 2024
Mexico’s Sener Sees Natural Gas Demand Growing in Power, Industrial Sectors, but Flat Overall Through 2037

Mexico’s Sener Sees Natural Gas Demand Growing in Power, Industrial Sectors, but Flat Overall Through 2037

Mexico’s natural gas demand will be driven by its power and industrial sectors through 2037, according to a report from Mexico’s energy ministry Sener. The report, Prospectiva de Gas Natural 2023-2037, is a planning instrument to help with “the design of the integral national strategy around natural gas,” Sener said. It would be part of…

April 2, 2024
Mexico Natural Gas Imports Seen Reaching New Highs as Price Slump Persists

Mexico Natural Gas Imports Seen Reaching New Highs as Price Slump Persists

Amid a historic natural gas price downturn and uncertainty around the future of LNG exports, the Mexico market remains a relative bright spot for bulls. Pipeline flows of U.S. natural gas to Mexico have averaged 6.09 Bcf/d year-to-date through March 27, up 552 MMcf/d versus the same period last year, according to Wood Mackenzie data.…

April 1, 2024
Mexico Monthly Natural Gas Imports Unchanged Amid Supply Glut in Texas – Spotlight

Mexico Monthly Natural Gas Imports Unchanged Amid Supply Glut in Texas – Spotlight

North American natural gas futures found a little momentum on Thursday. The May New York Mercantile Exchange contract settled at $1.763/MMBtu, up 4.5 cents on the day. Earlier in the week, the April contract rolled off the board at $1.575. Despite some momentum in cash prices, the Daily Henry Hub price has not surpassed $2/MMBtu…

March 28, 2024
Mexico Presidential Frontrunner Sheinbaum Promises Dominant CFE, Pemex if Elected

Mexico Presidential Frontrunner Sheinbaum Promises Dominant CFE, Pemex if Elected

Claudia Sheinbaum, Mexico’s presidential candidate for the ruling Morena Party, seeks continuity for the national energy sector.  In a March 18 speech to commemorate the anniversary of state oil company Petróleos Mexicanos (Pemex), Sheinbaum said her administration would follow the path of the Andrés Manuel López Obrador government and continue to prioritize the dominant role…

March 27, 2024
April Natural Gas Futures Head Lower Toward Tuesday’s Expiration; Cash Prices Vary

April Natural Gas Futures Head Lower Toward Tuesday’s Expiration; Cash Prices Vary

April Nymex natural gas futures finished their penultimate session in the lead position in the red, with the weather expected to provide a modest bump in demand too late to substantially impact the robust supply. At A Glance: April futures slip 4.4 cents Storage remains an anchor Spot gas mixed by weather The prompt-month contract…

March 26, 2024
Mexico Natural Gas Production Dips as Pipeline Imports Surge

Mexico Natural Gas Production Dips as Pipeline Imports Surge

Mexico’s natural gas production averaged 4.05 Bcf/d in February 2024, compared to 4.29 Bcf/d in the same month a year ago.  State oil company Petróleos Mexicanos (Pemex) supplied 3.84 Bcf/d or 95% of the total, down from 4.07 Bcf/d in February 2023, data from upstream regulator Comisión Nacional de Hidrocarburos (CNH) show.  Associated gas tied…

March 25, 2024
Mexico Elections Pit Energy Continuity Against Return to Open Auction Era, Expert Says

Mexico Elections Pit Energy Continuity Against Return to Open Auction Era, Expert Says

Expanding the use of natural gas tapped from Mexico’s abundant reserves would help to reduce the carbon intensity throughout many areas of the economy, said Jeremy Martin, vice president of Energy & Sustainability at the Institute of Americas. During the upcoming elections, however, Mexicans will decide whether they want more of the same or a…

March 22, 2024
North American Natural Gas Prices Look for Support Amid U.S. LNG Permit Freeze – Mexico Spotlight

North American Natural Gas Prices Look for Support Amid U.S. LNG Permit Freeze – Mexico Spotlight

North American natural gas prices were subdued this week despite a boost from lower production and some lingering cold weather. On Thursday, the New York Mercantile Exchange contract for April settled at $1.683/MMBtu, down 1.6 cents on the day. As a comparison, NGI’s next-day Henry Hub traded Wednesday for Thursday delivery at $1.565, down a…

March 21, 2024