Mexico allocates $11B to tackle gas shortages, economy

Sep 05, 2013 | 08:53 AM | Rodrigo Alonso

Tags  natural gas, gas shortages, Pemex, Petroleos Mexicanos, Mexico investment, Mexican economy, Pena Nieto, Concamin Rodrigo Alonso

MEXICO CITY — Mexico’s government is investing more than 150 billion pesos ($11.3 billion) in natural gas to combat supply shortages and strengthen its economy.

Critical alerts issued to the manufacturing sector by state-owned oil and gas company Petróleos Mexicanos SA de CV (Pemex) on natural gas consumption might have led to losses of around 1 percent of the country’s gross domestic product (GDP) thus far this year, according to an estimate released this week by Enrique Peña Nieto’s administration.....

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