Mexico Accelerates Gas Imports as Pemex Fields Sit Idle
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Mexico, which is building about six new power plants this year, is likely to step up natural-gas imports because slumping prices for the fuel are deterring state-owned Petroleos Mexicanos from developing its own fields.
Domestic supply isn’t sufficient to cover the needs of Comision Federal de Electricidad, the country’s state power company, Sergio Alcocer, Mexico’s deputy energy minister, said yesterday in an interview in La Jolla, California. Pemex isn’t planning to exploit as much as 1 trillion cubic feet of gas reserves it recently found to focus on oil output, he said.