Petróleos Mexicanos (Pemex) will have a new head this Monday, August 26, according to the information provided by the president-elect Claudia Sheinbaum. Whether Octavio Romero Oropeza remains or a new person is announced to lead the company, there is a business from which billions of pesos could be obtained and which could be addressed in the next six-year term.
This is Liquefied Natural Gas (LNG), which leaves the coasts of the Gulf of Mexico, crosses the Panama Canal and ends up back in Mexico and the United States, on the coasts of California.
Pemex has nothing to do with this business, but it currently belongs to the American company New Fortress Energy, which has a floating offshore platform near the coast of Tamaulipas, where it receives the supply and produces the Liquefied Natural Gas.
The U.S. Energy Information Agency said the first export of the gas was made this month, via a vessel capable of transporting up to 200 million cubic feet of natural gas.
Journalist Jonathan Ruíz Torre wrote in his column on Friday, August 23 that Pemex could take advantage of this business and sell the gas to the American company to take advantage of Liquefied Natural Gas, which is emerging in different parts of the world; however, it “does not have it.”
“This year, it produces even less natural gas than last year, just 4,653 million cubic feet per day. Most of this gas is used by the company itself and by CFE,” wrote Ruíz Torre.
How does the Liquefied Natural Gas business work?
Liquefied Natural Gas is a growing business in different parts of the world, and it is used to bring gas to areas where it is scarce, such as California.
It involves extracting gas from underground. Its temperature is then lowered so that it can finally be transported by ship.
This gas is recovered from oil wells before it is released into the atmosphere. In addition, natural gas is “cheap,” which is one of the reasons why Pemex has not explored the areas of opportunity it represents.
The US company that operates this business in Mexico receives gas from Texas, where fracking takes place, and produces about 36,260 million cubic feet of gas daily.
In comparison, Pemex produces 4,653 million cubic feet per day, which it normally uses for the company itself and for CFE.
2024-08-25 20:30:10