Russia has stepped up efforts to deepen its energy ties with Mexico, offering to supply liquefied natural gas (LNG) and advanced petroleum technologies, as the Central American country grapples with ageing infrastructure, sluggish domestic output, and a heavy reliance on US gas imports.

During last week's St. Petersburg International Economic Forum, Russian Energy Minister Sergey Tsiviliov announced Moscow’s readiness to deliver LNG to Mexico and share technology for oil extraction and electricity distribution. According to official statements shared via the Russian Embassy in Mexico, Russia is looking to collaborate on the full spectrum of energy operations — from upstream exploration to final delivery.

“We are already working with Mexico,” said Tsiviliov while touting Russia’s “excellent technologies” in LNG and its willingness to provide equipment and expertise for energy generation, transmission, and oil processing under challenging geological conditions.

The move is part of the Kremlin's broader strategy to expand energy partnerships in regions historically dominated by US influence. While Mexico remains deeply integrated with the US energy market — importing over 70% of its natural gas from across the border, primarily from Texas — rising demand, limited domestic production, and geopolitical friction with Washington have opened the door to alternative suppliers.

According to a recent report by Fitch Ratings, Mexico's growing dependency on US natural gas is expected to intensify due to increased energy consumption and stalled domestic output. This dynamic has made Mexico more vulnerable to external political pressures, particularly following the implementation of protectionist policies by US President Donald Trump and the broader unpredictability of US-Mexico relations in the energy domain.

Pemex, Mexico’s state oil company, has been attempting to reinvigorate production by reopening shuttered wells and prioritising fields with potential to produce oil, gas, or condensate. But progress has been hampered by limited funding and deteriorating infrastructure. According to Reuters, roughly one-third of Pemex’s 30,000 wells are currently inactive.

While Russia’s offer is unlikely to displace the United States as Mexico’s primary energy partner in the short term, it reflects a strategic push to gain market share and influence in Latin America. Russian authorities have extended invitations to Mexican companies to collaborate directly with Russian firms in upstream and downstream activities, as well as in energy infrastructure development.

In parallel, Canadian companies have also been exploring opportunities to increase their role in Mexico’s energy matrix. Goldy Hyder, CEO of the Business Council of Canada, told El Financiero that Canadian firms such as pipeline operators ATCO Ltd. and TC Energy Corp. are looking to expand operations in Mexico. Executives from both companies met with Mexican President Claudia Sheinbaum during the G7 summit in Canada, discussing energy projects aimed at curbing the country’s dependency on US imports.

Despite the bold announcements from Moscow, Mexican federal institutions — including the Secretariat of Energy and Pemex — have yet to formally respond to the Russian proposal. The Secretariat of Economy also declined to comment when contacted by CNN.

Meanwhile, domestically, Sheinbaum’s administration has continued to push for new infrastructure developments, including power plants and gas pipelines, amid nationwide electricity outages that have sparked public discontent. During a recent visit to Yucatán, Sheinbaum dismissed criticism of insufficient supply as part of a “political campaign”, insisting that there is enough energy and that new distribution projects will soon be rolled out.

In 2024, the bulk of Mexico’s LNG imports originated from the US ($113mn), followed by Trinidad and Tobago, Peru, Indonesia, and Nigeria, according to official trade data cited by Infobae. These figures underscore the marginal role that maritime LNG — and particularly non-US suppliers — currently plays in Mexico’s energy mix.

Russia’s overture represents a clear geopolitical signal — and a potential commercial opportunity — as Mexico seeks to diversify energy sources and reduce external vulnerabilities. However, any meaningful pivot will depend on political will in Mexico, regulatory conditions, and the ability of Russian firms to navigate international sanctions and logistics challenges in delivering LNG to Latin America.