Banco Sabadell Backs MX$5.27 Billion for Gas Transport, Storage

Spanish lender Banco Sabadell is betting on Mexico’s growing energy needs with MX$5.27 billion in financing for natural gas transport and storage projects, part of a wider push to reinforce the country’s industrial backbone and energy security.

The bank said its focus on pipelines, terminals and storage facilities reflects both a strategic wager on Mexico’s development and a commitment to support the energy transition. “An efficient and expanding energy system is indispensable for Mexico’s economic growth,” said Carlos Herrerías, Head of Energy and Infrastructure, Banco Sabadell.

Mexico’s reliance on natural gas has sharpened the urgency of such investments. More than 70% of the fuel consumed in the country is imported, mostly from the United States, while domestic storage capacity barely covers 2.4 days of demand. According to Herrerías, authorities have set a target of five days of strategic reserves, a goal that could require up to MX$50 billion depending on the technology deployed.

Herrerías shared that natural gas demand in Mexico is projected to rise 1.3% annually through 2029, driven largely by industrial expansion and the power sector’s dependence on the fuel. Sabadell added that against this backdrop, private capital is seen as crucial to expanding and modernizing infrastructure.

Sabadell framed its financing as aligned with the government’s Plan México, the flagship development strategy launched by President Claudia Sheinbaum to attract US$45 billion in investment by 2025 while tying private capital to social and environmental goals.