Mexican energy reform "offers opportunities for UK oil and gas"News // March 6, 2015
British energy businesses will benefit from closer co-operation between the UK and Mexico said Energy Minister Matthew Hancock as Mexican President Enrique Peña Nieto arrived in Aberdeen.
Mexico’s energy system is undergoing significant reform and President Peña Nieto is visiting the UK’s energy capital to speak to energy leaders across the business and education sectors, as well as signing agreements with the UK Government for greater collaboration in the areas of energy and climate change.
Energy Minister Matthew Hancock said: “This visit today by President Peña Nieto to the UK’s energy capital cements the already close links between our two countries and heralds an era of closer collaboration in energy.
“The government of Mexico expects US$50 billion of investment by 2018 in the wake of its energy reforms – boosting the economy and creating jobs while rejuvenating production.
“Together with Mexico’s energy ambitions and the UK’s wealth of experience and expertise, now more than ever there are unparalleled opportunities for partnership across business and education.
“The UK has much to offer. Our oil and gas industry is seen as the gold standard across the globe with an exemplary safety record and cutting edge innovation in some of the most challenging conditions in the world.
“And our energy market reforms are bringing on billions of pounds of new investment in renewables as we move to a low carbon economy, with the UK now No1 in the world for offshore wind.”
The President was greeted in Aberdeen by the Secretary of State for Scotland, Alistair Carmichael, and escorted to Aberdeen Town House. There he was joined by Energy Minister Matthew Hancock and introduced to senior representatives of the UK oil and gas companies, including BP and Shell. Both companies this week signed an agreement with Mexico’s investment promotion agency, ProMexico to stimulate Mexico’s oil and gas supply chain.
The visit included a demonstration of the Mexico 2050 Calculator, a user-friendly model that allows you to explore different scenarios and mitigation options to 2050 that helps plan the country’s energy system. This has been jointly developed by Mexico and the UK Governments and is based on the UK’s award-winning 2050 Calculator.
Mr Hancock added: “Our governments are one in our determination to tackle Climate Change and work together towards a global deal at the crunch climate talks in Paris at the end of this year.
“This is why it is important that, through tools like the 2050 Calculator, Mexico and the UK are able to plan and communicate to the public the need to go low-carbon and avoid the worst effects of climate change.”
The President finished his visit at a Robert Gordon University energy education event with senior academics that included a demonstration of the Drilling and Advanced Rig Training simulator (DART).