ArcelorMittal México has recently inked a substantial natural gas supply contract valued at $2.7 billion with the country's state power utility, the Comisión Federal de Electricidad (CFE). The renewed agreement is set to span over the next ten years, solidifying ArcelorMittal's position as the leading natural gas consumer in Mexico.
Operating from its plant located at Lazaro Cardenas, ArcelorMittal México plays a pivotal role in the Mexican energy landscape by supplying a range of crucial steel products, including rods, slabs, bar stock, and wire.
The Mexican energy market, largely influenced by state-owned enterprises, faces ongoing challenges in accommodating the needs of private industries. Ternium, a prominent steel company in Latin America, advocates for an acceleration of energy investments in Mexico. According to Ternium, such proactive measures are essential to surmount difficulties encountered by private enterprises operating within the country.
As Mexico grapples with the intricacies of its energy landscape, the renewed natural gas supply agreement between ArcelorMittal México and CFE emerges as a noteworthy development, signifying stability and long-term collaboration in the crucial sector of natural resource distribution.
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