Mexico’S Deepening Natural Gas Dependency On U.S. Supplies: A 2024 Overview
(MENAFN- The Rio Times) In the first half of 2024, Mexico's natural gas imports from the United States increased by 7% to a daily average of 6,272 million cubic feet, capturing 30% of U.S. gas exports.
This growth exemplifies Mexico's escalating reliance on foreign energy despite domestic policies aimed at achieving energy independence.
From 2018 to 2024, Mexico's Natural gas imports from the U.S. increased by 42.6%. Meanwhile, domestic production declined by 16.2% to 2,336 million cubic feet per day.
This sharp decline in domestic output has starkly contrasted with the rising imports, which, in 2023, constituted 72.1% of Mexico's total gas consumption.
Natural gas, primarily used in power generation and industrial applications, has become indispensable to Mexico 's energy landscape. About 60% of this gas fuels combined cycle power plants, crucial for Mexico's electricity supply.
Mexico's actual energy strategy heavily leans on U.S. natural gas imports, despite the narrative of energy sovereignty.
This reliance is influenced by cost efficiencies and production capabilities enhanced by American hydraulic fracturing (fracking) technologies.
These dynamics not only shape Mexico's energy security but also have significant implications for its economic and environmental policies.
As Mexico continues to depend heavily on U.S. natural gas, it ties its energy security closely with geopolitical and market shifts in the North American region.
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