HOUSTON, July 13, 2017 /PRNewswire/ --
In keeping with its position as the leading source of pricing information for the Mexican power and gas sectors, ICIS is pleased to announce the launch of a new series of gas price calculations which aim to provide greater transparency to companies looking to enter this rapidly liberalising market.
The Pemex Regional Gas Price Indicator, published for the first time in the 5 July edition of the ICIS Mexico Energy Report, is a three-month forward curve which attempts to calculate the lowest cost that Mexico's state oil company Pemex can sell natural gas at key geographical demand points on the national Sistrangas natural gas transport system in both US$/MMBtu and Mexican Pesos (Ps)/GJ.
ICIS has chosen to focus on four of the major gas consumption points on the Sistrangas grid: Monterrey in the Zona Golfo Sistrangas transport zone, Mexico City in the Zona Central, Guadalajara in the Zona Occidental and Minatitlan in the Zona Sur.
By doing so, ICIS intends to provide new gas market entrants with a price reference when competing against former gas monopoly Pemex. To ensure relevance, the price calculations are derived based on ICIS' current view of the market based on interaction and feedback from market participants.
The move reflects the recent decision by Mexico's federal energy regulator CRE to remove the maximum price cap previously placed upon Pemex. From 1 July onwards, natural gas in Mexico is sold on a liberalised, deregulated market basis.
In addition, private companies are now also able to trade natural gas thanks to the launch of private capacity reservation contracts in the national Sistrangas pipeline grid, overseen by transmission system operator Cenagas.
By launching the Pemex regional gas price indictor, ICIS demonstrates its continued commitment to providing the most relevant price information, news and analysis for the Mexican power and gas markets.
Initial efforts to provide transparency to the power market have proved successful, with the completion of three power price surveys in the second quarter of 2017.
The surveys will continue to be held on a monthly basis. In addition, MER editor James Fowler will present a webinar on 20 July, summarizing the results of our first three surveys and providing an outlook for power market development over the second half of 2017.
To read more about the webinar, click here: http://forms.icis.com/Mexicopowerwebinar/
For more information on the methodology behind ICIS' new Mexico gas price calculations, click here: https://www.icis.com/compliance/reports/mexico-energy-report/
The ICIS Mexico Energy Report provides exclusive news and in-depth analysis on the latest projects, prices and legislation affecting the Mexican energy sector. The report is the first English-language publication to provide the insight that global businesses and investors need to evaluate opportunities in Mexico's emerging power and gas markets.
ICIS is the world's largest petrochemical market information provider and also publishes benchmarks that are widely used in the energy and fertilizer markets. Our aim is to give participants in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience providing pricing information, news, analysis and consulting to buyers, sellers and analysts.
ICIS has a global staff of more than 800, and its main offices are in London, Singapore, Shanghai, Houston, New York, Karlsruhe, Milan, Guangzhou and Tokyo. Its Editorial team of 180 report thousands of market prices and news events each week, and ICIS is fully committed to upholding the highest principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles, and has successfully passed annual external audits since those regulatory guidelines were introduced in 2012.
ICIS is a division of Reed Business Information, part of RELX Group. Further information can be found at http://www.icis.com .
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For further information about this release, please contact:
Senior Marketing Manager, ICIS
Direct: +1 (713) 525 2673