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Watching The World: Mexico's big changes

02/22/2010
By Eric Watkins
Mexico's oil and gas industry is in for some very big changes, especially in the amount of LNG it plans to import in the near future.The Mexican government recently unveiled that future with its annual natural gas demand forecast, which estimates that its LNG imports will spiral by 60% in 2010 alone.Altogether, Mexico's imports of LNG will average 586 MMcfd this year, up from 367 MMcfd in 2009.But the story does not stop there, as government estimates see Mexico's gas demand rising to 11.2 bcfd in 2024 from 7.204 bcfd in 2008, while the country's production will rise to 8.7 bcfd in 2024.What does Mexico plan to do about the 2.5-bcfd shortfall? Experts say that brings LNG imports into play...
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