Mexico

January Nymex natural gas futures’ four-day winning streak ended Tuesday in losses driven by revised weather outlooks that erased some cooler, supportive weather from forecasts. The front-month contract settled at $2.492/MMBtu, off 1.1 cents day/day. February futures closed at $2.366, off 5.0 cents. NGI’s Spot National Avg. was down 15.0 cents at $2.405. Notably, the…

Mexican conglomerate Grupo Carso SAB has bought into another Mexico oil and natural gas field in shallow waters offshore Campeche. Carso subsidiary Zamajal SA de CV would acquire PetroBal SAPI de CV and its 50% interest in the Ichalkil and Pokoch fields. PetroBal is the oil and gas subsidiary of Mexican conglomerate Grupo Bal. The…

January Nymex natural gas futures extended a relief rally into the fourth trading day Monday as hints of colder January weather provided some support, but weather and fundamental outlooks suggested the upside movement would be short-lived. The front-month contract settled at $2.503/MMBtu, up 1.2 cents from Friday but well off an early high of $2.597.…

“Investor confidence has to be reestablished through clear policies and mechanisms that are maintained and upheld over an extended period of time,” Sofía Tamayo Gutiérrez, Institutional Relations & Regulatory Affairs director at Kino Energia told NGI’s Mexico GPI. For the incoming government, “I would say: stability and legal certainty, the promotion of renewable energies and…

The U.S. Department of Energy (DOE) has delivered a final environmental assessment for New Fortress Energy Inc.’s (NFE) offshore Altamira LNG project as the firm awaits delivery of a component that could allow it to begin exporting U.S. natural gas from Mexico’s eastern coast. NFE previously requested to re-export 145 Bcf/year, or 400 MMcf/d, from…

North American natural gas futures slumped below $2.500/MMBtu this week amid ample supplies and weak domestic demand. Mexico demand for attractively priced U.S. gas, though, hasn’t abated.  For the past 10 days through Thursday, average pipeline imports of U.S. natural gas into Mexico averaged 6.59 Bcf/d. This was an increase of  0.80 Bcf/d over the…

Mexico President Andrés Manuel López Obrador, or AMLO, is ending his term the way he started it – by lambasting the nation’s regulators and accusing them of being in cahoots with private business interests. On Monday, the president said he would try to push a bill through Congress in his final months that would eliminate…

Demand is surging for natural gas pipeline and storage capacity in North America, and as a purveyor of both, that’s good news for Kinder Morgan Inc. (KMI), CEO Kim Dang said Thursday. Dang, a KMI veteran who took over the top job this year, said there are “a lot of fantastic tailwinds” for the company…

Mexico and the rest of Latin America are gaining importance on the international natural gas market stage in terms of infrastructure buildout, natural gas demand, and both imports and exports. See what NGI analysts gleaned from the recently completed 3Q2023 earnings season. Kinder Morgan Inc. (KMI): Mexico is building a number of new gas-fired power…