HMA Duncan Taylor, Secretary of Energy Pedro Joaquín Coldwell, and Chris Sladen President of BP Mexico and President of the BritChaM Energy Group
On 3rd October 2017, the British Chamber of Commerce hosted its 16th Energy Day – an annual flagship Chamber event that has grown into one of the most important energy conferences in Mexico.
Emilio Díaz, BritChaM President and EY Mexico Partner
The event addressed the current state of the energy sector in Mexico and what it needs to do if it is to harness the benefits of the Energy Reform and remain competitive at a global level. There was also much discussion of potential threats to the sector on both an economic and political level. This covered the 2018 Mexican elections, the renegotiation of NAFTA and how the energy sector will play an important role in contributing to Mexico’s growth well into the future. One common idea amongst speakers was to shift the spotlight from the energy reform to the energy sector itself as a way of moving forward.
HMA Duncan Taylor.
With recent success stories like the Zama-1 block “once in a lifetime” discovery for Talos Energy and the timely execution of the energy reform and tenders, speakers had a lot of praise for Pemex and the Mexican government. Going forward, many panellists spoke of the importance of all the various players collaborating effectively as well as always focusing on greater transparency, security and governance of the country’s existing assets. The need to adjust the legal instruments that are currently hindering investment and development was stressed.
As has been the case over recent years, the event addressed another important aspect of energy in Mexico and the reform: the power market. This market was also opened up as part of the reform and the Federal Electricity Commission was split into various entities alongside multiple initiatives to boost efficiency. Clean power is also a priority for Mexico and was continuously addressed throughout the day, with one of the main points being the importance of reducing energy demand through finding energy efficient policies. With ambitious emissions targets and goals for using more clean energy sources, the conference also suggested how this transition might be accomplished including examples such as the proper management of landfills to achieve a lower carbon economy.
Some of the main challenges moving forward are the regulation of crude oil and natural gas, the integration of different energy sources, and grid interconnection in the power market. Another important matter to keep an eye on is the role that nuclear energy will play in sustainability policies.
Overall, the need for institutional strengthening was perceived as key to ensuring the highest efficiency and fullest development potential. Furthermore, the creation of collegiate government bodies with long term strategies that go beyond government terms was suggested.
Being a British Chamber event, the UK government was also present, alongside other important global organisations and companies to offer a more international perspective.
The Chamber was honoured to receive both HMA Duncan Taylor and Mexico’s Energy Secretary Pedro Joaquin Coldwell for the opening and luncheon respectively. During the latter, a minute’s silence was also held to remember those affected by the September earthquakes in Mexico. The Chamber also announced their donation to Amistad Británico-Mexicana for the reconstruction effort of $20,000 MXN.
The event closed with a new and dynamic Q&A session with members of the Chamber’s Energy Group representing different areas of the sector. This was followed by cocktails on the terrace for members to visit sponsors’ stands and network.
David Shields Editor of Energía a Debate magazine, member of the BritChaM Energy Group and Secretary of Energy Pedro Joaquín Coldwell.
The Chamber would like to thank all our sponsors, speakers and attendees for joining and supporting us at such an important event for both our organisation and the sector as a whole.
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