**Mexican Billionaire and Pemex Renegotiate Deal for Lakach Deepwater Gas Field**
Mexican billionaire investor Carlos Slim’s team is in discussions with state energy company Pemex to make significant adjustments to their agreement for the development of the Lakach deepwater natural gas field. This project, located in the Gulf of Mexico, aims to bring Mexico closer to energy independence, although its development poses challenges.
The urgency to advance gas field projects has intensified due to U.S. President Donald Trump’s threats of tariffs, which have strained Mexico’s relationship with the United States. In response, the government of Mexican President Claudia Sheinbaum has intensified efforts to reduce the country’s reliance on gas imports from the U.S., a strategy initiated by her predecessor during Trump’s first term.
Pemex and Grupo Carso, Slim’s holding company, are exploring various strategies to enhance the profitability of the Lakach project, including lowering the projected gas price. Grupo Carso is also considering the inclusion of two nearby fields, Piklis and Kunah, which have similar resource potential, to boost the venture’s profitability.
The financial implications of adding these fields are still unclear, but sources indicate that this move could significantly enhance Slim’s political influence. Pemex has not provided comments on the negotiations, and Slim’s representatives have also refrained from discussing the matter.
In recent years, Slim has increased his investments in the energy sector, including stakes in shallow-water fields such as Zama, Ichalkil, and Pokoch. The Piklis and Kunah fields were designated as strategic priorities by Sheinbaum’s administration, as Pemex aims to ramp up gas production from approximately 3.7 billion cubic feet per day to 5 billion cubic feet per day.
Slim’s team has also suggested the possibility of pausing the project or withdrawing from it, which some sources view as a negotiation tactic to secure a more favorable deal. Previous plans indicated a startup for the Lakach field in 2026, with a limited production duration of eight years, but this timeline now appears uncertain. The field, situated about 90 kilometers from the Gulf port of Veracruz, is estimated to contain 900 billion cubic feet of gas, but it requires significantly more investment for development.
