Mexico Meets With Canadian Companies Over Energy Dispute
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Mexico Meets With Canadian Companies Over Energy Dispute

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Eliza Galeana By Eliza Galeana | Junior Journalist & Industry Analyst - Tue, 01/24/2023 - 11:29

On Jan. 23, 2023, Raquel Buenrostro, the Mexican Minister of Economy, met with Canadian energy companies to follow up on agreements forged to avoid escalating an expanding row based on Mexico’s energy policy. Buenrostro agreed to meet with the companies in February to discuss further progress.

The Mexican government reported that it has taken the concerns of five energy companies with Canadian capital into consideration. Earlier this week, Buenrostro met with Northland Power, Canadian Solar and pension fund La Caisse de Depot et Placement du Quebec (CDPQ). President López Obrador had previously met with the representatives of these companies and ATCO on Jan. 18, 2023, to resolve problems regarding their treatment in Mexico's electricity sector. Furthermore, the Ministry of Economy informed that the American-Canadian firm Pattern had visited the government along with other US companies. 

During the North American Leaders’ Summit held in early January 2023, President López Obrador and Prime Minister Trudeau agreed that the Mexican government should attend to the concerns of Canadian firms over the ongoing USMCA dispute regarding Mexico’s state-focused energy policies. “We addressed economic issues related to the investment of Canadian companies in Mexico, mining companies, important companies like TransCanada, which is investing to build a gas pipeline in the Gulf of Mexico…We also spoke about companies that are operating in the energy sector. We are seeking to resolve problems, differences that naturally arise when dealing with these economic and trade relations…Obviously, there are some issues to deal with but we are always open to dialogue,” President López Obrador said.

During the summit, Mary Ng, the Canadian Trade Minister, expressed concerns about Mexico’s energy and mining policies. Ng conveyed Canada’s concerns regarding Mexico’s energy reforms and their potential impact on Canadian investments, noting the importance of finding a mutually acceptable solution. Additionally, the minister expressed concern about how Canadian mining companies are treated in Mexico and the need for transparent processes for mining sector permits.

Minister Buenrostro stated that ATCO and Pattern Energy no longer have pending issues to discuss anymore. Moreover, according to Reuters, a framework for each of the company's problems with Mexico's energy sector had been agreed upon. Buenrostro and the firms involved agreed to meet again in February to discuss progress made on the agreements.

Photo by:   Secretaria de Economia - Twitter

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