Mexican utility Comisión Federal de Electricidad (CFE) has reached new contract terms with three pipeline companies, ending a conflict that began in early July and allowing for the start of commercial natural gas delivery on the Sur de Texas-Tuxpan marine pipeline.
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Battle Line Drawn as NatGas Futures Slide to $2.15; Mexico Pipeline Deal Imminent
The battle over $2.15 natural gas waged on Friday, with bears already pouring their pumpkin-spiced lattes as weather models maintained a fall-like U.S. pattern through early September. Near-record production and liquefied natural gas (LNG) intake also held firm, leaving little reason for a significant move for the September Nymex futures contract, which settled Friday at $2.152/MMBtu, down seven-tenths of a cent on the day. October fell by the same amount to $2.156.
Stabilis Seeks to Grow Distributed LNG Business in Mexico
Mexico’s growing appetite for natural gas and relatively underdeveloped pipeline network make the country an ideal candidate for distributed liquefied natural gas (LNG) delivered by truck, according to Stabilis Energy CEO James Reddinger.
Natural Gas Futures Pull Back Amid Ho-Hum Storage Data, Cooler Weather Outlooks
Storage data that proved to be a non-event made for the third quiet trading session this week for natural gas futures prices. The September contract settled Thursday at $2.159, down 1.1 cents, and October slipped 1.4 cents to $2.163.
Column: Getting Natural Gas to Every Part of the Mexican Economy
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column as part of a regular series on understanding this process, written by Eduardo Prud’homme.
Easing Temperatures Take Chunk Out of September Natural Gas Prices; Cash Slips
After netting barely 2 cents over the previous two sessions, natural gas futures took a more definitive turn on Wednesday as widespread summer heat appears to be drawing to a close. Following a steep sell-off in cash markets, the September Nymex futures contract tumbled 4.8 cents to $2.17, and October fell 4.2 cents to $2.177.
Argentine Primary Election Results Resurface Interventionist Fears in Energy Sector
The resounding defeat for President Mauricio Macri in the Argentine primary elections earlier this month had an immediate financial impact: the peso lost 25% of its value against the dollar, and the stock market plunged. It also led many in the Argentine energy sector to fear the uncertainty of what is to come.
Quiet Session Ends With Natural Gas Futures Relatively Stable; Spot Gas Mixed
An increasingly bullish background for the natural gas market is building with the onset of commercial liquefied natural gas (LNG) export operations along the Gulf Coast, but production is proving to be a tough barrier for prices to overcome. With long-term weather outlooks once again trending cooler, the September Nymex gas contract swung in and out of positive territory before going on to settle only eight-tenths of a cent higher Tuesday at $2.218/MMBtu. October rose six-tenths of a cent to $2.219.
Natural Gas Output From Mexico Energy Reform Contracts Seen Doubling By 2021
Mexico’s upstream oil and gas regulator, Comisión Nacional de Hidrocarburos (CNH), expects natural gas production from contracts awarded through the country’s 2013 energy reform to reach 464 MMcf/d by 2021, more than double the 225 MMcf/d expected from the same contracts in 2019.
NatGas Bulls Still in Game After Late Move Higher; Cash Mixed as Heat Set to Wane
Oppressive heat spanning most of the United States supported natural gas futures Monday, but cooler-trending long-range outlooks combined with another production record to send prices lower for most of the session. Most analysts considered $2.15 to be the battle line, and bulls came out victorious after a late rally lifted the September gas futures contract by a penny to $2.21/MMBtu, while October rose six-tenths of a cent to $2.213.