Mexico

Natural gas futures on Tuesday extended the ferocious rally launched a day earlier, hitting a high point for the year, as traders fixated on supply/demand imbalance concerns and cash prices continued to escalate. The October Nymex contract gained 2.9 cents day/day and settled at $5.260/MMBtu. A day earlier, the prompt month soared nearly 30 cents.…

Mexico’s Comisión Federal de Electricidad (CFE) will build alternate natural gas pipeline branches in an effort to get stalled projects in the country moving. Speaking at a press conference earlier this month, CFE Internacional and CFEnergía head Miguel Reyes said new routes would be developed for the Guaymas-El Oro pipeline and the Tuxpan-Tula line. The…

Natural gas futures surged on Monday as a new tropical storm threatened to further shake the Gulf of Mexico’s (GOM) production foundation, a development that could hamper supply/demand balances at a time when gas in storage for winter is already light. At A Glance: Nicholas threatens output GOM production still off Cash prices climb The…

Market players and the government each have roles to play in creating a more liquid, transparent natural gas market in Mexico, according to Eduardo Prud’homme, cofounder of the Gadex energy consultancy. Prud’homme assessed the state of play in Mexico in the latest episode of NGI’s Hub and Flow podcast. Buyers and sellers of natural gas…

Interest from Asian buyers in liquefied natural gas (LNG) exports from Mexico’s Pacific Coast has reached a full-blown frenzy amid soaring natural gas prices and demand, according to Mexico Pacific Limited LLC (MPL) CEO Doug Shanda. Shanda spoke with NGI about the firm’s LNG export terminal planned for Puerto Libertad in Sonora state. “We saw…

Natural gas futures gave up ground on Friday as traders took profits following a frenzied rally that saw the prompt month surge more than 46 cents over the two prior trading sessions. The catalysts for the spikes remained firmly in place: Light production in Hurricane Ida’s wake and festering concerns about inadequate storage ahead of…

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI’s Mexico and Latin America Senior Editor Christopher Lenton sits down with Mexico natural gas expert, Gadex consultant and NGI columnist Eduardo Prud’homme to discuss NGI’s most recent Mexico market survey. The podcast dives into the evolving Mexico market…

“There’s been a lot of talk about a downturn in the Mexican energy industry but I don’t necessarily see it that way. There are plenty of gems that are there for the taking in Mexico if you know where to look,” said Dino Barajas, partner at the law firm DLA Piper. “As a potential investor,…

Natural gas futures gathered even more momentum on Thursday, reaching a seven-year high as production remained weak in Hurricane Ida’s aftermath and the latest government inventory report confirmed a tight supply/demand balance. At A Glance: Futures forge past $5.00 mark EIA reports 52 Bcf storage injection Western spot prices fall back Ida “amplified already heightened…