Argentina will tender 5-6 LNG cargoes next week for winter demand, starting on March 17. Last year’s imports were lower than planned, and this year’s shipments might decrease further due to weather. The country is boosting production from the Vaca Muerta Formation to cut energy imports.
Next week, Argentina will initiate a tender for 5-6 LNG cargoes aimed at meeting winter gas demand. The bidding process will commence on March 17, with plans to accept bids during the week of the 25th. Last year, Argentina imported 10 LNG cargoes out of a total of 30, showcasing a prior commitment to bolster energy supplies.
An executive from Excelerate Energy reported at the CERAWeek Conference in Houston that Argentina will not request a floating regasification unit this winter. Daniel Gonzalez, the Secretary of Energy and Mining Coordination, indicated that the LNG shipments’ number this year is expected to be lower than the previous year, depending on weather conditions.
Argentina continues to enhance production from its Vaca Muerta Formation, recognized as the second largest unconventional gas reserve globally and fourth largest for oil. The nation’s strategy is to decrease energy imports after overcoming years of trade deficits, leading to a significant energy trade surplus valued at $5.67 billion in 2024.
Argentina is set to tender for 5-6 LNG cargoes to address winter gas needs, reflecting a focus on domestic capabilities while reducing imports. The country is actively increasing production from its substantial Vaca Muerta reserves, aiming for energy independence amid economic recovery from previous trade deficits.
Original Source: www.marinelink.com
