Mexico

Braskem Reports Record Ethane Imports into Mexico, Offsetting Reduced Pemex Supply

Braskem Reports Record Ethane Imports into Mexico, Offsetting Reduced Pemex Supply

Braskem SA reported record-high ethane imports during the third quarter to its polyethylene complex in Coatzacoalcos, Mexico, and the figure is set to continue growing. Ethane imports to the Braskem Idesa facility — among the largest petrochemicals plants in Latin America — reached a record 22,400 b/d in September, Braskem management said earlier this month…

November 17, 2021
Fitch Warns of Turmoil in Mexico Power Sector if AMLO Reform Passes

Fitch Warns of Turmoil in Mexico Power Sector if AMLO Reform Passes

A proposed regulatory overhaul of Mexico’s energy sector would cause havoc for private power generators as all of their supply contracts with non-state offtakers would be cancelled, according to analysts at Fitch Ratings Inc. Through a bill sent to the lower house on Sept. 30, President Andrés Manuel López Obrador is seeking to restore the…

November 15, 2021
U.S. Natural Gas Prices to Remain High Through Winter as Exports Surge, Says EIA

U.S. Natural Gas Prices to Remain High Through Winter as Exports Surge, Says EIA

U.S. natural gas spot prices are set to average $5.53/MMBtu over the next few months as near-average winter inventory draws and higher liquefied natural gas (LNG) exports figure to help keep prices elevated into early 2022, the Energy Information Administration (EIA) said Tuesday. In its latest Short-Term Energy Outlook (STEO), EIA reported an average Henry…

November 12, 2021
Veracruz Salt Dome Natural Gas Storage Project Said ‘Probable’ – Mexico Spotlight

Veracruz Salt Dome Natural Gas Storage Project Said ‘Probable’ – Mexico Spotlight

Following a tricky 2021 that has included a major disruption to its natural gas supply, the Mexican government is advancing plans for strategic storage. Speaking Tuesday at the U.S.-Mexico LDC Forum in San Antonio, TX, Gadex consultant Eduardo Prud’homme said “good discussions” were underway with a developer to build a salt dome storage facility in…

November 11, 2021
MPL Exploring Low-Carbon LNG for Mexican Export Project

MPL Exploring Low-Carbon LNG for Mexican Export Project

Mexico Pacific Ltd. LLC (MPL) continues to advance its liquefied natural gas (LNG) export project for the Pacific coast of the country. The company signed a collaboration agreement last week with ConocoPhillips LNG Licensing LLC and Bechtel. Together, the companies plan to work with construction firm Techint SA de CV to pursue “innovative lower carbon…

November 4, 2021
Amid Rising Prices, Pemex Looks to Up Natural Gas Production, Reduce Flaring

Amid Rising Prices, Pemex Looks to Up Natural Gas Production, Reduce Flaring

Mexico’s national oil company Petróleos Mexicanos (Pemex) is working to limit flaring and increase natural gas production, executives said last week during an earnings call. Reinaldo Wence of downstream unit Pemex Transformación Industrial said “we need all the natural gas we could get… especially with the weather turning cold.” He was referencing the onset of…

November 1, 2021
Column: Looking Ahead to AMLO’s Final Three Years in Mexico’s Energy Sector

Column: Looking Ahead to AMLO’s Final Three Years in Mexico’s Energy Sector

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. The intention of the López Obrador government to change the constitution to restore vertical integration in the electricity industry is a matter…

October 29, 2021
MPL Looking to Low-Carbon LNG for Mexico’s Puerto Libertad, Progressing to FID

MPL Looking to Low-Carbon LNG for Mexico’s Puerto Libertad, Progressing to FID

Mexico Pacific Ltd. LLC (MPL) continues to advance its liquefied natural gas (LNG) export project for the Pacific coast of the country. This week, the company signed a collaboration agreement with ConocoPhillips LNG Licensing LLC and Bechtel. Together, the companies plan to work with construction firm Techint SA de CV to pursue “innovative lower carbon…

October 26, 2021
Mexico Energy Reform Could Spark Legal Controversies, Deloitte Energy Head Says

Mexico Energy Reform Could Spark Legal Controversies, Deloitte Energy Head Says

The energy law proposal “opens a delicate door because, in the future, the Mexican government could face claims of direct or indirect expropriation of investments, which could mean the state has to compensate for certain damages,” Valeria Vázquez, Energy and Resources Industry leader at Deloitte in Mexico and Central America, told NGI’s Mexico GPI. “To…

October 22, 2021
Natural Gas Prices Moderating on Mild Weather, Improving Supply — Mexico Spotlight

Natural Gas Prices Moderating on Mild Weather, Improving Supply — Mexico Spotlight

North American natural gas prices moderated this week as temperatures remained warm and storage inventories continued to grow. NGI natural gas prices at Monterrey and Los Ramones near the border with Texas dropped below $5.00/MMBtu for the first time in over a month. U.S. futures prices for November and December delivery also dipped in this…

October 21, 2021
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