Mexico’s demand for natural gas is expected to grow by as much as 10 percent over the next few years, but unlike in the U.S., fracking isn’t expected to help meet much of that demand.

Incoming President Andres Manuel Lopez Obrador has expressed little interest in developing Mexico’s shale plays through hydraulic fracturing, as the current Pena Nieto administration has proposed. That has some business executives worried.

“In Texas, we see huge roads and water infrastructure that are...