Argentina will tender for 5-6 LNG cargoes next week to meet winter demand. The bid process starts on March 17, with results expected the following week. In past years, the nation imported LNG to cope with energy needs while increasing production from resources like the Vaca Muerta Formation.
Argentina is scheduled to commence the tendering process for five to six liquefied natural gas (LNG) cargoes next week, aimed at fulfilling the gas demand throughout the southern hemisphere’s winter. The bidding process will initiate on March 17, with the intention to collect bids during the week of the 25th.
In the previous year, Argentina’s first LNG tender resulted in the importation of ten cargoes out of a total of thirty for the year. A representative from Excelerate Energy, the sole operator of the nation’s import facility, informed attendees at the CERAWeek Conference in Houston that there was no request for a floating regasification unit for this winter season.
Daniel Gonzalez, who holds the position of Secretary of Energy and Mining Coordination, stated that LNG shipments for this year are anticipated to be lower compared to last year, contingent on similar weather conditions prevailing. Argentina continues to enhance production from its Vaca Muerta Formation, recognized as the second-largest unconventional gas reserve globally and the fourth-largest oil reserve, with the goal of decreasing reliance on energy imports.
Historically, the country has faced substantial trade deficits; however, a considerable energy trade surplus has contributed to a strain on its finances, achieving a surplus of $5.67 billion in 2024. This strategic move towards self-sufficiency in energy is crucial for Argentina’s economic stability and growth.
In summary, Argentina is poised to tender for five to six LNG cargoes for the upcoming winter, with the bidding process beginning on March 17. This comes in context of the nation’s increasing production from the Vaca Muerta Formation aimed at reducing energy imports. The total number of shipments planned for this winter is expected to be less than last year, influenced by weather conditions.
Original Source: www.marinelink.com
