It is urgent that Mexico protects its energy supply in the face of an anticipated trade conflict in the Trump 2.0 era. In this context, it is essential to consider that the country is highly dependent on refined fuels from the United States, which poses a significant risk. Trump has expressed his intention to boost U.S. liquefied natural gas exports to Europe and Asia to reduce these regions' dependence on Russia and strengthen the U.S. political agenda.
Mexico, as the primary destination for U.S. petroleum exports, consumes more than half of the gasoline that comes from that country. Despite efforts to increase domestic production in the previous administration, the country remains highly dependent on these imported products. Therefore, it is crucial to complete the reforms aimed at achieving a sovereign energy policy under the administration of President Claudia Sheinbaum, especially in light of an aggressive scenario from Trump.
On another note, Grupo México, through its operational units Buenavista del Cobre and La Caridad in Sonora, has been recognized with the National Export Award for its outstanding responsible production of essential raw materials. This recognition highlights the social, environmental, and governance practices of both mines, reinforcing the importance of strengthening energy autonomy in Mexico.
Trump's return to the U.S. presidency poses energy challenges globally, with a significant impact on Mexico due to its proximity. The dependence on imported natural gas from the U.S., which accounts for more than 60% of consumption in Mexico, is a weak point for the country. Additionally, over 50% of the electricity generated in Mexico is produced using this gas. Urgent measures are needed to strengthen domestic production and state electricity generation.
In this scenario, the importance of port infrastructure, such as in Manzanillo, is highlighted as key for maritime foreign trade in Mexico. The modernization of refineries and diversification of gas sources are necessary actions to ensure the energy security of the country. The ASTOM 2024 Summit in Manzanillo brought together companies and relevant stakeholders in the field of maritime foreign trade, focusing on the challenges associated with nearshoring and the growing logistical demand in the country.
