For the UIA, the way out of the crisis begins with the development of Vaca Muerta

with factories that they had no power outages but neither dollars to import suppliesprecisely because the reserves of the Central Bank had to be spent on imports regasification vesselsthe axis of the celebration of Industry Day that will be carried out by the Industrial Union (UIA) it will be energy development. Both UIA staff and President A.Alberto Fernandez will move this Friday to Neuquén, the province where the deposit of Dead cow.

Although a provisional speech by the head of the UIA is expected, Daniel Funes from Riojaone of the axes will be the decline in activity in factories during this semester.

In the UIA, they are not only worried about the restriction on imports imposed by the central bank since the beginning of June. They also observe a growing decline in consumption, which could intensify once they come into effect the new increases in electricity and gas tariffs at home.

That’s why they will also crush Vaca Muerta’s development. The numbers they manage in the production plant, provided by consultants and also by their partners, is that in the medium term this immense field just started to be exploited could not only cover Argentina’s energy needs, but also multiply the country’s gas needs by three, with the consequences export balances.

“Every year, in winter, we consume at the rate of 150 million cubic meters per day and Vaca Muerta it could supply between 350 and 450 million m3 per day, in a very short time. Some of the surplus could be used to generate clean electricity, and the rest we secured demand from both Chile and Brazil. Already this year, Vaca Muerta contributed nearly a third of the gas we consumewith an incipient development and serious deficiencies in the infrastructures for the transfer of gas “, specified sources of the body.

At UIA they see energy development as the tip of the ball to get out of the current quagmire, although they also speculate that a decline in activity and consumption, as they are currently experiencing, could generate less demand for dollars. “Somehow a formula is sought to avoid a sudden devaluation“, they analyzed.

Since taking office to replace Miguel Acevedo, Daniel Funes de Rioja has maintained a more combative profile with the national government, particularly on issues such as the wealth tax or import restrictions.

However, at the celebration to be held this Friday at the Neuquén Industrial Park, which will be attended by President Fernández and provincial governor Omar Gutiérrez, UIA sources anticipated that Funes’ speech it will be more appropriate.

“We have survived a winter with no power outages. It is true that we did not have dollars to import supplies, precisely because the Central Bank spent the reserves on more than 30 regasification plants. But we had the energy and the drop in activity, which we internally expected at the beginning of the year, we’re just seeing him enter the second half. Until July, we had a cumulative increase in activity of 7% against the first seven months of 2021, ”they said.

How much is the current decline in activity? “It’s too early, but we will close the semester“, they added.

On Friday morning, before the speeches, there will be a “conversation” about Vaca Muerta’s role where the YPF Supply Chain Strategy manager will speak, Emiliano Perez Seal; Pan American Energy’s Vice President of Upstream Planning and Strategy, Giovanni Martin Bulgheroni; the Vice President Supply Chain of Tecpetrol, William Murphy; and the president of Cintolo Hermanos and member of the Executive Committee of the UIA, José Luis Cintolo.