Updated Aug 30, 2024
8/30/24
Mexico is importing around 7 Bcf/d of natural gas from the United States this summer, but unresolved issues related to a trade treaty binding the two economies could complicate this relationship.
Asian LNG imports rose by 10.5 million metric tons (mmt) in 2023 versus 2022, the largest year/year change for any market, according to the International Gas Union’s (IGU) newly published 2024 World LNG Report.
Mexico’s natural gas production ticked upward to 3.85 Bcf/d in May from a three-year low of 3.76 Bcf/d in April, but was down 11% year/year, government data show.
The Biden administration’s pause on new approvals for LNG exports to non-free trade agreement (FTA) countries is casting doubt over the future of liquefaction projects in Mexico that would rely on U.S. feed gas.
Economist Luz Elena González Escobar will helm Mexico’s energy ministry Sener come October, President-elect Claudia Sheinbaum announced Thursday.
The Biden administration’s pause on new approvals for LNG exports to non-free trade agreement (FTA) countries is casting doubt over the future of liquefaction projects in Mexico that would rely on U.S. feed gas.
The International Energy Agency (IEA) is forecasting a substantial decline in oil supply from Mexico between 2024 and 2030, a trend that would most likely result in lower natural gas production as well.
Claudia Sheinbaum's National Energy Plan seeks to achieve "shared prosperity," emphasizing the importance of inclusive economic growth that reduces inequality and promotes general well-being. But the absence of a roadmap for improving natural gas supply leaves questions for how to fuel that growth.
North American natural gas futures prices were in a downward spiral this week and fell for the fifth time in six sessions on Thursday. Both the July and August New York Mercantile Exchange futures contracts had fallen below the $3.00/MMBtu level.
New Fortress Energy Inc. (NFE) said the work necessary to begin operations at its LNG unit offshore Altamira, Mexico, is nearly complete with first production seen within two weeks.