Mexico

Natural gas futures took a dramatic fall after the Easter holiday weekend as weather forecasts shifted much warmer for the next couple of weeks. With April on pace to be warmer than normal, the May Nymex gas futures contract plunged 12.8 cents Monday to settle at $2.511/MMBtu. June fell 11.5 cents to $2.582. Spot gas…

Global investment firm KKR is buying a stake in a Sempra Energy business unit that manages liquefied natural gas (LNG) projects in Mexico and along the U.S. Gulf Coast as it anticipates growth in North American energy infrastructure. Under the terms of the deal announced Monday, KKR will pay  $3.37 billion for a 20% non-controlling…

BREAKING: U.S. EIA reports net 14 Bcf injection into natural gas storage for the week ending March 26, coming in slightly below market expectations May Nymex contract settled at $2.608/MMBtu on Wednesday, down 1.5 cents day/day Robust U.S. export activity held at lofty levels, but natural gas futures fell again on Wednesday as traders mulled…

Mexico President Andrés Manuel López Obrador last Friday sent a bill to congress to amend the Hydrocarbons Law and grant the state greater control over granting and revoking permits in the oil, gas and petrochemicals business. López Obrador on Monday said the bill was designed to “remove the sharpest edges” of the 2013-2014 energy reform…

New Fortress Energy Inc. (NFE) said Monday it has signed an agreement to supply natural gas to two power plants owned by Mexican state power utility Comisión Federal de Electricidad (CFE) in Mexico’s difficult-to-reach Baja California Sur (BCS) state. NFE will supply the equivalent of about 250,000-500,000 gallons (20,000-40,000 MMBtu)/d of liquefied natural gas (LNG)…

“By pausing the renewable energy auctions and pausing the oil auctions, the president has basically given a ‘stay away’ signal to foreign investment in the energy sector,” David Goldwyn, Chairman of the Atlantic Council Global Energy Center’s Energy Advisory Board, told NGI’s Mexico Gas Price Index. Recent policy decisions have “really put into question Mexico’s…

Mexico natural gas prices rose to an astonishing average of $21.37/MMBtu in February, up from $3.39/MMBtu in January, following freezing weather in Texas, according to the latest IPGN monthly natural gas price index published by the Comisión Reguladora de Energía (CRE). The February price, up from the February 2020 average of $2.71/MMBtu, was the highest…

BREAKING: U.S. EIA reports withdrawal of 36 Bcf from natural gas storage for the week ending March 19, steeper than market expectations On Wednesday, April Nymex contract climbed 1.0 cent day/day and settled at $2.518/MMBtu Natural gas futures on Wednesday gained ground for the third time in four sessions amid steady demand for U.S. liquefied…

Federal judges in Mexico have now suspended the implementation of controversial new legislation in the power sector on both economic and environmental grounds.  Greenpeace Mexico on Tuesday announced it had successfully lobbied for a judicial order suspending, on a provisional basis, implementation of the new rules that were passed by Mexico’s Senate on March 3.…