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Russia’s Energy Minister, Sergei Tsivilev, has said that Russia is ready to supply liquefied natural gas (LNG) to Mexico, as well as share its production technologies with the country. He stated that “We have great technologies in the area of liquefied natural gas. We are ready to share these technologies. We are also ready to supply liquefied natural gas to Mexico.”
Tsivilev noted that Russia is also open to expanding cooperation in the oil industry and is ready to provide its technologies in the field of oil production and increasing the efficiency of its processing. “We are ready to build the entire chain from oil production to its processing and transportation to gas stations.”
Mexico is developing several liquefied natural gas (LNG) projects, primarily to export natural gas sourced from the United States to Asia, with a focus on the Pacific Rim. These projects are strategically located to leverage existing pipelines and offer shorter shipping routes to Asia, potentially bypassing the Panama Canal. However, the buildout of Mexican LNG faces challenges, including potential price volatility in global gas markets, risks of market manipulation, and political issues with the United States.
Mexico has good relations with Russia but has to play these off against its relations with the United States. However, the new Mexican president, Claudia Sheinbaum, is pro-Russian, and historic trade ties have been positive.
Russia is a key international supplier of fertilizers to Mexico, accounting for nearly a quarter of all Mexican imports of nitrogen and mixed nitrogen, phosphorus, and potash fertilizers. Rolled steel, aluminum, and synthetic rubber are among Mexico’s other important imports from Russia.
Mexico is Russia’s second largest regional trading partner in the Central and Latin American region after Brazil. Russian multinational companies such as Power Machines operate in Mexico, and Mexican multinational companies such as Grupo Omnilife, Grupo Maseca, Nemak, Cemex, Mabe, Katcon, Metalsa, and Gruma operate in Russia. Russia has a double tax treaty with Mexico.
Mexico announced in March 2022 that Mexico would not be participating in any economic sanctions against Russia and criticized the overseas censorship of Russian state media. There has been some talk of a Mexican free trade agreement with the Eurasian Economic Union; however, this would probably be a step too far for the neighboring United States, with the US being Mexico’s largest trade partner.
According to figures released by the Bank of Mexico, Russia’s exports of goods to Mexico increased by over 70% during 2024, following initial declines caused by sanctions, showing a bilateral trade volume of about US$2.7 billion. The bilateral trade structure remains diversified. Russian exports include chemical fertilizers, metal products, grain, and rubber, while Mexico supplies Russia with coffee, pepper, pharmaceuticals, and food products.
Further Reading
Russia, Mexico 2025 Bilateral Trade & Investment Relations: Update
