Mexico

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. For most Mexicans, the word “gas” is not associated with natural gas, but with liquefied petroleum gas (LPG), a fuel used in…

The latest round of government storage data was about as bullish as it could be, but sellers came into the fold once weather models showed the upcoming heat being a little less intense. At A Glance: EIA stuns with 13 Bcf build Market on track for 3.4 end-October storage Building heat lifts cash The September…

Mexico’s natural gas production is helping to meet national demand as U.S. prices continue to soar this summer. “Mexican dry gas output is ramping up again,” WoodMackenzie analyst Richardo Falcón told NGI’s Mexico GPI. Since July 21, dry gas production has averaged nearly 2.5 Bcf/d, up 0.24 Bcf/d above average levels seen for the past…

After two solid days in the black, natural gas futures prices reached new heights on Wednesday as production continued to decline, and hot weather remained firmly in next week’s forecast. The September Nymex gas futures contract hit a $4.205 intraday high before settling at $4.158, up 13.1 cents from Tuesday’s close. At A Glance: U.S.…

Global natural gas demand is forecast to recover and eclipse 2019 levels by the end this year, with liquefied natural gas (LNG) consumption set to climb in Asia, according to BP plc. The London-based integrated energy major delivered its second quarter results on Tuesday, offering a robust outlook for natural gas and oil, even as…

A step down in production drove natural gas futures prices higher for a second day, with gains accelerating after the latest weather models turned even hotter for next week. The September Nymex gas futures contract settled Tuesday at $4.027, up 9.2 cents on the day. October climbed 9.4 cents to $4.032. At A Glance: Covid…

Italy’s Eni SpA has announced another deepwater find in the Sureste Basin in southeastern Mexico’s Gulf of Mexico (GOM), with preliminary estimates indicating 150-200 million boe in place. The estimated resources “reflect that there’s still untapped potential to be brought to market,” Amexhi head Merlin Cochran told NGI’s Mexico GPI. Amexhi is a Mexico private…

Natural gas futures traded both sides of the $4.00/MMBtu mark on Monday as bullish weather forecasts and persistently sagging storage levels quickly reversed the losses from late last week. The September Nymex gas futures contract hit a $4.042 intraday high but ultimately finished the day at $3.935, up only 2.1 cents from Friday’s close. At…

Mexican state power utility Comisión Federal de Electricidad (CFE) said Sunday it has signed a memorandum of understanding (MOU) with TC Energy Corp. to advance two natural gas pipeline projects and to “consolidate” several existing firm natural gas transport agreements between the firms. CFE said it has agreed “to take a more active role” in…