Mexico Planning Natural Gas Infrastructure Amid Rising Nearshoring, Power Demand – Spotlight – Natural Gas Intelligence

North American natural gas futures have been on a hot streak these past two weeks as warmer temperatures and tighter supplies provided market bulls with some optimism.

Bucking the trend on Thursday, the New York Mercantile Exchange June contract settled at $2.657/MMBtu, down 18.5 cents day/day.

Mexico imports of U.S. gas have, meanwhile, continued to be strong, averaging 7.28 Bcf/d over the past 10 days, according to NGI calculations. So far in May, Mexico has imported 7.27 Bcf/d via pipeline, a full 1 Bcf/d higher than during the month of May 2023. 

“The hot weather in Mexico is pushing the Mexico electrical grid to the limit, which runs mostly on natural gas power plants, which without the increased demand from cooling systems throughout the country, already runs under…