Mexico

Natural gas production in Mexico averaged 4.07 Bcf/d in January 2024, down from 4.25 Bcf/d in January 2023 and marking a fourth straight sequential decline.  State oil company Petróleos Mexicanos (Pemex) supplied 3.86 Bcf/d of the total, compared to 4.03 Bcf/d a year earlier, according to the latest data from upstream regulator Comisión Nacional de…

“A lot of the potential developments that nearshoring will bring are going to need access to natural gas,” Diana Pineda, a partner at Gónzalez Calvillo law firm in Mexico City, told NGI’s Mexico GPI.  “And the truth is, we’ve now gone several years without a new natural gas pipeline.” Pineda is one of the leading…

North American natural gas prices have been hammered for the past two weeks, and despite a minor rally, remain well below the $2.00 mark. The  March New York Mercantile Exchange gas futures contract on Thursday settled at $1.732/MMBtu, down 4.1 cents day/day. Prices had jumped on Wednesday after Chesapeake Energy Corp. said it intended to…

Mexican President Andrés Manuel López Obrador said last week that the government waived four months of tax obligations for state oil and gas producer Petróleos Mexicans (Pemex) in an effort to free up cash flow for the debt-saddled company following a downgrade by the credit agency Moody’s.  The credit rating for Pemex — which is…

Mexico will need to attract more than $41 billion in investment to generate an estimated 37 GW of additional electricity capacity required to meet the increased energy demand anticipated by nearshoring, Abraham Zamora, president of the Mexican Energy Association (AME), said during a recent presentation in Monterrey.  Nearshoring, or the relocation of manufacturing and supply…

Mexico’s President Andrés Manuel López Obrador announced a new package of 20 constitutional reforms on Monday evening. They include plans to scrap autonomous regulators such as competition watchdog Comisión Federal de Competencia Económica (Cofece) and energy regulator Comisión Reguladora de Energía (CRE). CRE oversees natural gas regulations and permitting. It also publishes the IPGN monthly…

Mexican presidential candidate Xóchitl Gálvez on Monday applauded a recent Supreme Court ruling that invalidated one of President Andrés Manuel López Obrador’s most controversial energy policies.  Mexico’s high court deemed unconstitutional a set of modifications to Mexico’s electricity industry law (LIE) that sought to prioritize the dispatch of electricity from power plants owned by state…

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. On the last day of January, Mexico’s Supreme Court delivered a verdict that could potentially end President Andrés Manuel López Obrador’s efforts…

Mexico’s nascent LNG market could be impacted by the decision of U.S. authorities to pause export licenses as they review methodology and guidelines. The liquefied natural gas export projects planned in Mexico, which amount to as much as 6 Bcf/d, would use U.S. natural gas as feed stock. As such, they require U.S. Department of…