Pemex, U.S. Energy Shifts – What’s Next for Mexico's Natural Gas Future with Francisco Monaldi

In the latest episode of NGI’s Hub & Flow podcast, NGI’s Christopher Lenton, managing editor of Mexico, sits down with Rice University’s Francisco Monaldi, director of the Latin America Energy Program at the Baker Institute. 

Together, they dive into the energy policy paradox in the United States, where the push for energy dominance is colliding with market realities, triggering ripple effects across global oil and gas markets. 

Monaldi, a leading Latin America energy expert, outlines the challenges for Mexico’s Pemex, which faces a perfect storm of soaring debt, crumbling production, and regulatory barriers that are stifling investment and threatening Mexico’s energy future. While there are faint signs of progress through service contracts and potential projects tapping unconventional resources, Lenton and Monaldi explore why these efforts won’t be enough to reverse Pemex’s downward trajectory and dependence on U.S. natural gas imports.