Updated Sep 25, 2024
9/25/24
Driven by a new modular upsized design and a full slate of customers for its Saguaro Energía LNG export project, Mexico Pacific Ltd. LLC is honing in on a final investment decision (FID) next year.
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.
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.
Three new Permian Basin pipeline projects with a combined capacity of 7.3 Bcf/d could be online by 2027, according to the U.S. Energy Information Administration (EIA), allowing for West Texas natural gas to reach both coasts in Mexico.
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.
North American natural gas futures for October found some momentum late in the week as supplies dipped.
Three new Permian Basin pipeline projects with a combined capacity of 7.3 Bcf/d could be online by 2027, according to the U.S. Energy Information Administration (EIA), allowing for West Texas natural gas to reach both coasts in Mexico.
The latest open season for natural gas transport capacity on Mexico’s Sistrangas pipeline network generated little interest from shippers amid sluggish growth in industrial demand for the fuel.