US natural gas exports to Mexico grew by 24% to 1.69 billion cubic feet per day (bcf/d) in 2012, the highest level since the data collection began in 1973. With imports now accounting for more than 30% of its total supply, Mexico’s natural gas use is also at its highest level ever.
Natural gas consumption is rising faster in Mexico than natural gas production, and as a result, Mexico is relying more on natural gas imports from the United States. Between 2007 and 2011, natural gas consumption in Mexico rose 4% per year on average, while average annual natural gas production climbed only 1.2%. Growing demand in the industrial sector drove the increases in natural gas consumption in Mexico to a record-high level in 2011, according to Petróleos Mexicanos (PEMEX)—the state-run oil and natural gas producer in Mexico. Read more at Oil & Gas Financial Journal
