TC Energy Corp. sees “a wealth of untapped demand” for natural gas in Mexico to be unlocked over the next decade, said Stanley Chapman III, the firm’s president for U.S. and Mexico natural gas pipelines, on Wednesday. “As demand across our backbone system in the heart of Mexico continues to emerge, future in-corridor expansions will…
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Imports Drop on Weak Demand as U.S. November Natural Gas Bidweek Prices Top $6 — Mexico Spotlight
Mexico’s economy went into quiet mode for most of the last week as the country celebrated its Dia de los Muertos holiday. Natural gas imports from the United States dropped, and pricing volatility continued to be the name of the game. Wood Mackenzie analyst Ricardo Falcón told NGI’s Mexico GPI that low pressure systems and…
U.S. Propane Prices Hit Seven-Year High, Squeezing Mexico LPG Market
Wholesale propane prices at the main U.S. natural gas liquids (NGL) hub have reached their highest level in more than seven years amid tight global supply and strong demand, according to the latest government figures. The Energy Information Administration (EIA) said wholesale propane prices at Mont Belvieu, TX, increased to an average of $1.33/gal during…
Latin American LNG Demand Booming Amid Tight Global Natural Gas Market
Latin American liquefied natural gas (LNG) demand has had a record year in 2021 and it is not letting up, tightening a global gas market that has sent prices spiking around the world. Imports of LNG into Latin America for the first eight months of the year added up to 10.44 million tons, according to…
Excelerate Looks to Import More LNG to Brazil amid Historic Drought
Floating specialist Excelerate Energy LP has reached a deal to import liquefied natural gas (LNG) to Brazil as the nation continues to deal with rising power demand amid a historic drought that has left hydroelectric reservoirs depleted. Under an initial deal struck with state-owned Petróleo Brasileiro SA, aka Petrobras, Houston-based Excelerate would deploy one of…
Momentum Growing for Monterrey Index in Latest Mexico Natural Gas Market Survey
Mexico’s industrial center Monterrey was once again picked as the best location for a domestic price index in the fifth survey of the natural gas market undertaken by NGI’s Mexico GPI. The survey, conducted in August, received 30 responses from buyers and sellers in Mexico, compared to 23 for the March survey. While most natural…
U.S. Pipeline Natural Gas Exports to Mexico Hit New Monthly Record in June
Natural gas exports via pipeline from the United States to Mexico recorded a new monthly record in June, the U.S. Energy Information Administration (EIA) said in a note Friday, citing data from Wood Mackenzie. Pipeline exports averaged 6.8 Bcf/d for the month, up 25% from June 2020 and 44% from the previous five-year (2016-2020) monthly…
COLUMN: CFE Emerging As Mexico’s De Facto Natural Gas System Operator
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico’s natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. With the start of activity on the Sur de Texas-Tuxpan, La Laguna-Aguascalientes and Villa de Reyes-Aguascalientes-Guadalajara pipelines since December 2018, the government…
Mexico Natural Gas Market Spotlight: July Imports Slip on Lower Demand
Imports of natural gas from the United States continue to dominate Mexico’s natural gas supply, but they have dropped slightly this month on lower demand. To date this month, Wood Mackenzie reported that Mexico imports from the United States were 6.7 Bcf/d, 2% lower than in June. NGI calculations had the 10-day average through Thursday…
Drought, Market Factors Propelling LNG Demand in South America
After two years of slumping liquefied natural gas (LNG) demand in South America’s major economies, the tide this year has shifted. Even as the first ever cargo of LNG is arriving this week in Mexico’s Baja California Sur, the country in fact has seen a sharp slowdown in LNG imports at its Manzanillo and Altamira…