Mexico

Mexico is poised to play an increasingly prominent role in the global natural gas market, driven by internal demand and the LNG export projects planned for the country’s Pacific and Atlantic coasts. During a joint webinar on Thursday, experts from NGI and the London Stock Exchange Group plc (LSEG) described the market dynamics that are…

Xóchitl Gálvez, a leading candidate in Mexico’s 2024 presidential elections, is seeking to prioritize the use of natural gas to advance the country’s energy transition and promote more private investment to develop necessary transportation infrastructure, she said in comments in Mexico City. Speaking at the at the Energy Associations Congress, Gálvez, who is the 2024…

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. Mexico, a country with logistical advantages and an industrial economy, could see substantial economic benefits from nearshoring, or the relocation of operations…

North American natural gas prices saw strong forward momentum this week as winter weather appeared around the corner. The November New York Mercantile Exchange contract jumped 20.4 cents day/day on Thursday and settled at $3.214/MMBtu. Mexico imports added to the upward pressure. Pipeline imports over the last 10 days through Thursday averaged 6.87 Bcf/d, according…

After a bull run last week, North American natural gas futures floundered this week. The November New York Mercantile Exchange gas futures contract on Thursday sank for the seventh straight session to settle at $2.957/MMBtu, down 9.9 cents day/day. Mild weather and ample U.S. natural gas supplies helped spur the downward pressure. Mexico imports from…

U.S. exports of piped natural gas to Mexico are expected to grow by 20% during the 2022-2026 period, according to the International Energy Agency (IEA). The projection is “partly driven by new LNG export terminals in Mexico relying on U.S. feed gas supplies, including the Energía Costa Azul liquefied natural gas project (4.4 Bcm/year) and…

Mexican energy trade group Consejo Mexicano de la Energia (Comener) has called on regulators to streamline permitting so as to not waste the near-term opportunities presented by nearshoring. Nearshoring is the buzzword of the moment in Mexico. It refers to North American companies shifting manufacturing processes closer to home. Boosted by the United-States-Mexico-Canada-Agreement, or USMCA,…

Mexico Energy Minister Rocío Nahle is resigning from her post to run for governor of Veracruz state, capping off a five-year stint as Mexico’s top energy policymaker. A petrochemical engineer and former employee of state oil company Petróleos Mexicanos (Pemex), Nahle was handpicked for the post by Mexico’s firebrand president Andrés Manuel López Obrador, better…

Northern Mexico needs additional natural gas infrastructure to meet rising energy demand, energy lawyer Alain Duthoy told NGI’s Mexico GPI.  “The recent announcements of more natural gas capacity and supply are positive, but there is still a lack of infrastructure in place to distribute it to the companies and industries that need it,” he said.…