The Mexican government, under President Andres Manuel Lopez Obrador, has taken the bold step of nationalizing a hydrogen production unit operated by French giant Air Liquide. The decree, published in the Official Gazette, declares the plant in Tula, Hidalgo, to be in the public interest, marking a significant turning point in the country’s energy policy.
Implications for Air Liquide and Pemex
Air Liquide, which had invested €50 million in this unit in 2017, has been given ten working days to start legal proceedings for compensation. This decision comes at a time when Pemex is seeking to improve margins and cut costs, as hydrogen is a key component in crude oil refining.
Impact on Energy Sovereignty
The decree emphasizes that Pemex’s takeover of the plant will contribute to national energy sovereignty, a priority of President Lopez Obrador. This move is part of a historic tradition of nationalization of the energy sector in Mexico, recalling the oil expropriation of 1938 under Lazaro Cardenas.
Economic and political consequences
This nationalization could have significant repercussions on Mexico’s international economic relations, particularly with France, and on the global energy sector. It raises questions about the balance between national interests and foreign investment, in a context increasingly focused on energy independence.
Mexico’s expropriation of the Air Liquide unit represents a decisive moment in the country’s energy policy. As Mexico seeks to strengthen Pemex and assert its energy sovereignty, this decision could redefine the dynamics of the energy sector in the region and beyond.
