Argentina will tender for 5-6 LNG cargoes next week to meet winter gas demand, starting the bidding process on March 17. The upcoming shipments are expected to be lower than the previous year’s imports. Argentina aims to enhance its energy production while decreasing imports from external sources.
Argentina is set to initiate a tender process for 5 to 6 liquefied natural gas (LNG) cargoes to address the anticipated gas demand during the upcoming winter season in the southern hemisphere. The bidding process will commence on March 17, with bids expected to be collected during the week of March 25.
In the previous year, Argentina’s inaugural LNG tender resulted in the importation of 10 out of a planned 30 cargoes. During a presentation at the CERAWeek Conference in Houston, an executive from Excelerate Energy, the company overseeing Argentina’s sole LNG import facility, noted that no requests for floating regasification units had been made for this winter.
According to Daniel Gonzalez, Secretary of Energy and Mining Coordination, the anticipated number of LNG shipments this winter is expected to be lower than the previous year, given the presumption of comparable weather conditions. Furthermore, Argentina is working to augment production from the Vaca Muerta Formation, one of the world’s largest unconventional gas reserves, to decrease energy imports.
Following years of trade deficits, Argentina emerged with a significant energy trade surplus of $5.67 billion in 2024. The country is focusing on leveraging its natural resources while minimizing dependence on external energy sources.
In summary, Argentina will tender for 5 to 6 LNG cargoes next week to meet winter gas demands, with an expectation of fewer shipments than last year. The country hopes to increase production from its Vaca Muerta Formation to reduce energy imports and continue to improve its trade balance, which recently showed a significant surplus in energy trade.
Original Source: www.marinelink.com
