Mexico is looking for ways to reduce its overwhelming dependency on U.S. natural gas imports, which currently satisfy over 50 percent of its demand. This is the highest foreign gas dependency rate in the world, according to a senior adviser to Mexico’s president Andres Manuel Lopez Obrador. S&P Global Platts quotes Abel Hibert as saying that Mexico needed to diversify its sources of natural gas but also its entire energy supply as the overdependency on U.S. gas constitutes the “greatest strategic risk” for the country. That’s especially true in light of the fact that Mexico uses natural gas for over 60 percent of its power generation: a much higher portion than other gas import-dependent countries in the world. One way that Pemex is already pursuing of reducing Mexico’s dependence on imported gas is through expansion of domestic production. The company plans to increase this to 5.7 billion cubic feet […]