Argentina will tender 5-6 LNG cargoes for winter gas demand starting March 17. The number of shipments is expected to be lower than last year. Efforts to boost production from Vaca Muerta are ongoing to reduce energy imports amid recent trade surpluses.
Argentina is set to tender for 5-6 liquefied natural gas (LNG) cargoes next week to address the anticipated gas demand as winter approaches in the southern hemisphere. The bidding process will commence on March 17, with plans to receive bids during the week of March 25. Historically, Argentina imported ten out of thirty planned cargoes during its first LNG tender last year.
Executives from Excelerate Energy, which operates the nation’s sole LNG import facility, indicated at the CERAWeek Conference in Houston that there has been no request for a floating regasification unit this winter. Daniel Gonzalez, Secretary of Energy and Mining Coordination, informed the press that this year’s expected LNG shipments would decline compared to last year, contingent on maintaining similar weather conditions.
Argentina is looking to boost production from its Vaca Muerta Formation, known as the world’s second-largest unconventional gas reserve and fourth-largest oil reserve, as part of its strategy to diminish energy imports. The country has been facing financial strains due to past trade deficits, although it recently reported a significant energy trade surplus of $5.67 billion for 2024, indicating a shift in its energy dynamics.
Reported by Eliana Razewski and Marianna Pararaga from Buenos Aires; written by Alexander Villegas; edited by Anthony Esposito and Marguerita Choy.
In conclusion, Argentina’s upcoming tender for 5-6 LNG cargoes aims to cater to the anticipated winter gas demand. As the country decreases reliance on energy imports while enhancing production from the Vaca Muerta Formation, it seeks to stabilize its financial position following years of trade deficits. The focus remains on securing sufficient LNG supplies while adapting to changing weather patterns and market conditions.
Original Source: www.marinelink.com
