Mexico's foreign trade bank Bancomext is preparing to finance oil and gas projects in the country, according to the bank's chief executive Enrique de la Madrid Cordero (pictured). The bank is already financing renewable energy and natural gas pipeline projects as well as firms supplying state-owned oil company Pemex, the executive was quoted by state news agency Notimex as saying during a Latin American banking summit in Cancún. De la Madrid said Mexico's energy reform will have the greatest impact of all the reforms implemented so far by the current government, as it is "detonating investment in different areas, among them gas pipelines." Given the opportunity to import cheap natural gas from the US and the demand for that fuel in Mexico, Bancomext is financing part of the Los Ramones pipeline, which will run from Texas to the central state of Guanajuato, and will support investment in projects to supply natural gas to the country's west coast. He said Bancomext has not yet defined concrete projects for the energy sector. Bancomext's portfolio of private energy sector financing increased from 2.77bn pesos (US$181mn) in 2013 to 7.9bn pesos (US$516mn) in 2014. De la Madrid said the bank is paying close attention to the tender processes resulting from the energy reform to provide capital and financing as projects require it. "The energy reform, even with low oil prices, will be an important business generator," according to the executive. "Mexico has an enormous energy demand and, as the economy grows, it will require more, and access to cheaper energy will in turn drive economic growth."