Since 2013 Mexico has been undergoing wide-ranging energy reforms to revitalize oil production and boost local economies. These have resulted in increased shares in the power sector, a decrease in reliance on imports, and the creation of a solid foundation for robust economic growth in the coming years. Today, the nation continues to place emphasis on expanding and improving its energy infrastructure. International businessman and foreign exchange expert Pablo Soria de Lachica recently discussed what to expect for the future of oil pipelines and production in the country.
One project, the South Texas-Tuxpan pipeline, is a $3.1 billion underwater endeavor that is expected to increase oil capacity by 2.6 billion cubic feet per day. Upon completion, it will become Mexico’s first subsea pipeline and will greatly improve the country’s ability to export to the southern United States, which is experiencing a massive increase in demand for natural gas. The line will span 700 kilometers, running from near Brownsville, Texas to Tuxpan in Veracruz state. Mexico’s Federal Electricity Commission expects that it will supply gas to power generation plants in Tamaulipas, Veracruz, and remote areas in the eastern, central and western regions of the country.
Pablo Soria de Lachica notes that despite tensions, which have emerged from US President Donald Trump’s stances on border issues and trade agreements, relationships in the power sector remain strong between Mexico and the United States due to high demand by the latter. Current export levels are around 4 billion cubic feet per day and are expected to rise by half a billion more by the end of the summer, according to a Genscape analysis. In addition, companies around the country are working together to further improve pipeline infrastructure. Together they have committed to increasing the national capacity to 8 billion cubic feet per day by the end of 2018. These numbers are without the consideration of several smaller lines, such as the Nueva Era and the Mier-Monterrey, which are expected to begin operations later this year. Soria de Lachica reminded that these advancements are results of Mexico’s landmark energy reforms passed in 2014, which set the stage for more supply diversity to country’s gas market.
Pablo Soria de Lachica is a globally acclaimed broker and foreign exchange advisor. A graduate of the Universidad Tecnologico de Mexico, with a Master of Business Administration, Soria de Lachica has two decades of experience in international trading. Presently he collaborates with Kartoshka, a global leader at the forefront of the latest sales, telemarketing and customer service technologies. The company relies on his vital expertise for market analysis, the establishment of new branches, the development of trading tools, and overseeing day-to-day business operations. Soria de Lachica is a strong supporter of numerous community and environmental projects. He is actively involved in the local Boy Scouts and Delta Epsilon Sigma Programs and contributes generously to a number of charity organizations.