Natural gas futures resumed their climb on Monday, buoyed by near-record export demand and the arrival of chilly weather. With the latest forecast extending and intensifying the cooler temperatures, the May Nymex contract settled 6.9 cents higher at $2.749. June climbed 6.4 cents to $2.818. Spot gas prices also moved higher in most areas outside…
Mexico
Articles from Mexico
Chillier Forecast, ‘Elevated’ Exports Send Natural Gas Futures Higher Early
Riding momentum from strong export levels and continued colder trends from forecasts over the weekend, natural gas futures probed several cents higher in early trading Monday. The May Nymex contract was up 3.9 cents to $2.719/MMBtu at around 8:40 a.m. ET. In its latest 15-day forecast Monday Bespoke Weather Services added nine gas-weighted degree days…
Texas Freeze Demonstrates Need for Further Mexico-U.S. Energy Integration, Expert Says
Freezing weather in Texas in February and the subsequent energy supply problems on both sides of the U.S.-Mexico border underline a need for greater energy integration between the two countries, Lorena Patterson, senior energy specialist and strategist, told NGI’s Mexico Gas Price Index. “I would advocate for greater integration between the markets, and more diversification…
Mexico’s Natural Gas Market Grows Amid Lessons from U.S. Experience
Mexico’s natural gas market is still in its early stages and suffers from a lack of competition, but that’s not too far from how things were in the United States when the market started, according to Mercuria Energy Co.’s Charles Blanchard. Blanchard, head of North American natural gas research, recently published an exhaustive study on…
Mexico Competition Monitor Urges Against ‘Detrimental’ Changes to Hydrocarbons Law
Mexico’s antitrust watchdog Comisión Federal de Competencia Económica (Cofece) has sent a letter to Mexico’s Congress decrying proposed changes to the nation’s Ley de Hidrocarburos, or Hydrocarbons Law. “We recommend the reform to the Hydrocarbons Law isn’t approved,” President Jana Palacios said on Twitter. She suggested the proposed changes would be damaging to competition in…
May Natural Gas Futures Climb Fourth Straight Day on Looming Cold Front
Cold front, strong LNG combine to lift natural gas futures again Early estimates point to storage build in high 60s Bcf later this week President Biden to host virtual summit on climate change for global leaders Natural gas futures advanced for a fourth consecutive session on Monday as a bout of chilly spring weather was…
Pemex Seen as ‘Drag’ on Mexico Economic Recovery, though Manufacturing Poised for Strong Year
Mexican state oil company Petróleos Mexicanos (Pemex) could hinder the country’s economic recovery prospects if the government does not shift course, according to new analysis by Rice University’s Baker Institute for Public Policy. In an issue brief published Friday, authors Tony Payan and José Iván Rodríguez-Sanchez argued that four pillars sustain Mexico’s economy: manufacturing, remittances,…
Column: Mexico’s Natural Gas Market Showing its Strength Amid Threats to Investment
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. Prud’homme was central to the development of Cenagas, the nation’s natural gas pipeline operator, an entity formed in 2015 as part of…
Mexico Seeking to Join Latin American Peers in Hydrogen Push
As numerous Latin American nations announce hydrogen projects with an eye toward the global market, Mexico is looking to join the party. “At a federal level, nothing is really happening,” Mexico energy expert Gonzalo Monroy told NGI’s Mexico GPI, “but there are initiatives at the local level.” One of those initiatives was the formal launch…
Mexico’s Pemex Aiming for 15% Increase in Natural Gas Production in 2021
Mexican state oil company Petróleos Mexicanos (Pemex) is forecasting a base-case scenario increase of natural gas production to 4.19 Bcf/d in 2021 from 3.64 Bcf/d realized in 2020, according to its newly released 2021-2025 business plan. For 2022, Pemex sees production reaching 4.39 Bcf/d before dropping to 4.1 Bcf/d in 2023 and 3.94 Bcf/d in…