Updated Sep 25, 2024
9/25/24
North American natural gas futures for October found some momentum late in the week as supplies dipped.
The New York Mercantile Exchange contract for October was trading at around $2.250/MMBtu on Thursday afternoon.
U.S. output fell below 100 Bcf/d on Wednesday and remained below that level on Thursday, according to Wood Mackenzie. That could be at least in part due to Hurricane Francine, which made landfall in Louisiana on Wednesday.
Christopher joined NGI as a Senior Editor for Mexico and Latin America in November 2018. Prior to that, he was a Senior Editorial Manager at BNamericas in Santiago, Chile. Based out of Santiago, he has covered Latin American energy markets since 2009 as a reporter, editor and analyst. He has an MA in International Economic Policy from Columbia University and a BA in International Studies from Trinity College.
On Oct. 1, Claudia Sheinbaum will assume the presidency of Mexico with questions lingering over her potential energy policy. Her academic credentials have raised positive expectations regarding the type of projects that could be a priority under her leadership. Her progressive vision on environmental policies has promised an electric generation matrix more oriented towards clean energy and emphasized its efficient use. This would create important investment opportunities. However, her nationalist profile and apparent ideological baggage could stifle the development of new energy infrastructure.
North American natural gas prices treaded water this week. The New York Mercantile Exchange contract for October was trading at around $2.300/MMBtu on Thursday afternoon, roughly where it was last Thursday.
When a federal judge in Louisiana ruled in July that the U.S. Department of Energy’s (DOE) pause on new worldwide export permits for LNG projects was unlawful, it sparked a series of questions.
As clouds gather around the future of Mexico’s energy industry, experts have presented an analysis of changes to the industry since the implementation of the country’s 2013 reform that unleashed private investment in oil, natural gas and electricity for the first time in more than 75 years.
Mexico’s national oil company (NOC) Petróleos Mexicanos, aka Pemex, should divest its non-core assets and focus on the 25 or so fields that supply most of its production and profit, according to Welligence Energy Analytics’ Pablo Medina, head of new ventures.
Transparency in Mexico’s natural gas market would suffer if the country’s Comisión Reguladora de Energía (CRE) were to be dissolved, Alexandra Lara, an independent energy consultant that previously worked with the regulator, told NGI’s Mexico GPI.
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