The government has extended a stimulus for gas production until 2028

Government extended a benefit for gas producers. Through the announcement of two plans, the executive has acknowledged that the country will pay a stimulus for the gas that the companies extract from Vaca Muerta and other reservoirs. Although the fine print has not been presented, the country has pledged to deliver andBetween US $ 4 and US $ 8 per million BTUs (unit of measurement of the sector).

The Minister of Economy, Sergio Massa, warned that the Gas plan, which expired in 2024, will be maintained until 2028. In this way, companies are guaranteed to be able to market their gas at interesting price.

The government is banking on the gas pipeline that will connect Vaca Muerta with Buenos Aires. It will be necessary to inject an additional 11 million cubic meters per day. It is because of the transportation capacity that it is not available today but will be once the pipeline is built.

Mass estimated savings of $ 3,000 million per year for the consumption of domestically produced gas instead of importing LNG (liquid gas). The official acknowledged that energy imports affected the Central Bank’s reserves. To buy liquid gas, fuel oil and diesel, the country has allocated over 10,000 million dollars.

The act was led by the president, Alberto Fernández. And the Secretary of Energy, Flavia Royón, also spoke. The Minister of Productive Development, José Ignacio De Mendiguren, and the Governors of Neuquén (Omar Gutiérrez), Chubut (Mariano Arcioni) and Río Negro (Arabela Carreras) participated. Among the executives stand out Pablo González (president of YPF), Marcos Bulgheroni (Pan American Energy), Marcelo Mindlin (Pampa), Hugo Eurnekian (Compañía General de Combustibles), Ricardo Markous (Tecpetrol), Javier Rielo (Total). For the unions there were José Llugdar (hierarchical and professional union of private oil and gas in southern Patagonia) and Manuel Arévalo (union of oil personnel in Neuquén, Río Negro and La Pampa).

Rayón and Massa met for 15 minutes with Alberto Fernández. Previously, the Minister of Economy had been to Casa Rosada with Wado de Pedro and the governors of the North to define the trip of the head of La Cartera de Interior and the provincial leaders to the United States.

The act lasted almost 40 minutes. Shortly before the start, Cristina Kirchner broadcast her first public activity after the attack.

A La Cámpora leader reflected that there were few governors present and that the most notorious absence was that of Alicia Kirchner. “The most important thing is to fill the pipeline”, registered.

Massa thanked the businessmen for the permanent dialogue he had with them during his US tour.

The head of the economic portfolio was the second speaker of the afternoon and the most energetic, for 9 minutes. “The crisis is painful on a global level, but it is also an opportunity for Argentina”, said the leader of the TR. “We want Argentines to pay for the cheapest energy in the world because we have the largest resources in the world,” he insisted. Two days before traveling to New York, Fernández recalled his last visit abroad, at the G-7, when, according to what he said, he firsthand confirmed the need for the most important leaders in gas and energy. . “They know we have the second largest unconventional gas reserves in the world. “Fernandez pointed out.

Although he did not mention the former Minister of Productive Development Matías Kulfas this time, Fernández once again reflected on the success of Plan Gas 4. He was enthusiastic about the progress of the liquefaction projects.

At the end of the meeting, Fernández and Massa went to the different ends of the U-shaped table. The president greeted the governors and trade unionists. The minister hugged the businessmen.

Upon leaving, Pablo González (YPF) recounted the details of the regasification project of the state-majority oil company with Petronas. The idea is that the country stops being an importer, to become an exporter. Minister Massa has estimated that, with the gas plan up to 2028, revenues of 29,000 million dollars could be generated.

The Minister of Economy asked that the “The governments respect” the signed plans. And that there is predictability in trade relations as well, since Argentina sells gas to Chile and could ship it to Brazil, should there be any further expansions in the pipeline network, following the construction of the initial Vaca Muerta pipeline.

Marcelo Mindlin, president of Pampa Energía, said: “Over the past 12 years, Argentina imported LNG and other fuels for 75,000 million dollars. Those dollars have generated jobs and development in other countries. The price paid to foreign producers averaged US $ 14 per million BTU, while local producers were only US $ 3, with the historic decision to build a new pipeline and these new gas tenders that the government he presented today, we are beginning to overturn this completely illogical situation, generating more economic activity and more employment in the country and preserving reserves ”.