Mexican government and business officials are in Calgary to make a pitch to leaders of Alberta’s oil patch as their country gets ready for a major reform of its energy sector.
With the Mexican government poised to end its 75-year energy sector monopoly, the Canada West Foundation hosted a roundtable discussion Monday at the Calgary Petroleum Club about the opportunities the changes could create for Alberta companies.
Mexican energy secretary Leonardo Rodriguez said the country is set to open up its industry to outside investment.
"We are really looking forward to having Canadian companies in Mexico,” he said.
Foundation director Carlo Dade told the sold-out gathering that Mexico will be looking for investment and technical help for all types of energy enterprises.
"The opportunities are there and they are enormous. Electricity, renewables, hydrocarbons, services, environmental consulting,” he said.
"For Mexico, the key is power, it's not just hydrocarbons, oil and gas, it's also electricity.”
Dade said the Mexican delegation chose to come to Calgary first, before going to Houston or New York.
In its Mexico's Energy Reform: Potential Impacts and Opportunities for Western Canada report, the Canada West Foundation cautioned that investing companies will face risks, including violence, crime and uncertainty about the new regulations.