This Wednesday, Argentina awarded the first 10 liquefied natural gas (LNG) imports for autumn and winter. The expense will be 210 million dollarss, much lower than last year due to multiple effects: the drop in international prices, the implementation of Vaca Muerta pipeline and the recession.
The state company Energía Argentina (Enarsa) has launched a tender for the purchase of 10 cargoes of gas, which will arrive at the Escobar regasification ship between April 20th and July 8th. Seven of the “positions” will be provided by Glencore and the remaining three, by the French Total energies.
The weighted average price of this “tender” is $9.99 per million BTU, 44% less than last year. In 2023, the average value of the four races was $17.80, with a total spend of $1,837.2 million for 44 vessels entering Escobar and Bahía Blanca.
Argentina thus achieves savings of millions of dollars in energy imports, necessary to achieve a trade surplus in the sector again in 2024 after 14 years.
Thanks to the commissioning, in August last year, of the President Néstor Kirchner (GPNK) Gas Pipeline of Vaca Muerta, with Enarsa as the client of the work and the national state as financier, this year the need for fuel imports was reduced by approximately 2,000 million dollars.
Furthermore, the decline in economic activity expected this year means that less imported energy will be needed to run industries and businesses.
Another reason is the rains in Brazil, in the northeast of the country and in Comahue, which filled hydroelectric dams and allowed cheaper energy production.
News in development
Source: Clarin
