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Mexico may look far afield for natural gas

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Mexico may look far afield for natural gas

Mexico is considering going abroad to drill for natural gas and is eyeing Peru, Bolivia, Australia and Qatar as countries that could boost its flagging domestic output, local media reported Tuesday.

The government, which wants to diversify Mexico’s sources of natural gas to reduce its vulnerability to price spikes in the United States, is talking to private companies about jointly producing natural gas abroad, according to the daily El Universal.

The idea would be to control every step of the chain, from drilling the natural gas to transporting it to Mexico.

“We are studying a win-win scheme of buying the gas, making the investment and bringing it to Mexico,” Energy Undersecretary Hector Moreira was quoted as saying.

“There are no legal restrictions, and there is financing on an international level,” he added.

An energy ministry spokesman confirmed the comments by Moreira.

The newspaper said the alliance could include state oil company Pemex, the country’s main electricity supplier CFE and unidentified private companies.

More: chron.com

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