Page 5 - GLNG Week 40 2022

GLNG COMMENTARY GLNG

may hold about 3.3 trillion cubic feet (93.45 process for Fast LNG units, but can it ensure that
bcm) of gas. CFE’s willingness to co-operate? After all, a sub-
The NOC has claimed that the work already sidiary of the utility has been battling with its US
done in the area could help launch production partners over the terms of gas pipeline contracts
as soon as next year. However, it is far from clear for several years.
that this timetable is realistic, since Pemex has Moreover, how do these plans to work with
little experience in deepwater development and US partners – and with infrastructure built to
will not be assigning an equity stake in the pro- handle US-produced gas – fit in with Lopez
ject to a foreign partner. Obrador’s frequently (and strongly) expressed
preference for ensuring that state-owned giants
Outstanding questions such as Pemex and CFE always play the leading
In other words, Pemex may want to produce role in Mexico’s energy sector? How does the
LNG and see Lakach as a suitable source of feed- president propose to achieve his policy aims
stock for a gas liquefaction facility, but it has yet while also working closely together with US
to answer all the questions about how and when partners, when in the past those policy aims have
this will happen. often led him to take steps to keep US compa-
And more broadly, Pemex’s parent organisa- nies from gaining too much of a foothold? And
tion, the Mexican government, has yet to address can he pursue such an agenda without running
similar questions that are likely to emerge about up against the terms of the US-Mexico-Canada
other ideas that are being put forward for the Agreement (USMCA) on free trade?
establishment of LNG plants in or on the coast There are no answers to these questions yet,
of the Gulf of Mexico. With respect to NFE’s but questions are sure to arise if Mexico seeks to
interest in Altamira, for example, Mexico City move forward with efforts to supply LNG t™
may have promised to facilitate the permitting

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