According to the latest research from ICIS, Mexico’s energy expansion is to be fuelled by US natural gas.
Mexico is emerging as a key new marketplace for US natural gas, as government-backed reforms open up the country's energy sector to foreign investment for the first time in over 50 years.
The country could import up to 13% of current daily US production by the end of the decade, as pipeline projects currently under construction or planned over the next five years will give Mexico up to 10 billion ft3/d in natural gas import capacity.
This gas will be used to supply Mexico's rising industrial demand as well as a fleet of new gas-fired power plants.
"The Mexican energy market is set to become the most dynamic for energy investment in the Americas, providing an exciting new opportunity for gas and power companies from 2016 onwards," explained James Fowler, Editor of ICIS' Mexico Energy Report.
"International companies are expected to be at the forefront of the markets expansion, as up to US$100 billion in foreign investment is sought through the next five years to cover Mexico's soaring gas and power demand."
Edited from ICIS press release by Katie Woodward