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Argentina Faces Natural Gas Supply Crunch as Winter Approaches

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Argentina is scrambling to secure natural gas supplies ahead of Southern Hemisphere winter, as lower temperatures drive up demand, Bloomberg said.

  • The government was forced to buy additional natural gas and cut off supplies to factories or drivers who run their cars on compressed gas.
  • Reuters reported May 29 that Argentina had unblocked the unloading of a 44 mcm gas shipment from Petrobras at port to stabilise supply.
  • Argentina’s Enarsa was heard buying the cargo for May 28 delivery from Petrobras at around $12.80/MMBtu, according to Bloomberg. This is at a premium to current JKM prices, which have fallen below $12/MMBtu in recent days.
  • Enarsa also received bids from seven companies for the country’s third round of spot LNG buying.
  • Argentina has vast gas reserves in its Vaca Muerta shale play and wants to become a net exporter, but current infrastructure is proving a bottleneck.
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Argentina is scrambling to secure natural gas supplies ahead of Southern Hemisphere winter, as lower temperatures drive up demand, Bloomberg said.

  • The government was forced to buy additional natural gas and cut off supplies to factories or drivers who run their cars on compressed gas.
  • Reuters reported May 29 that Argentina had unblocked the unloading of a 44 mcm gas shipment from Petrobras at port to stabilise supply.
  • Argentina’s Enarsa was heard buying the cargo for May 28 delivery from Petrobras at around $12.80/MMBtu, according to Bloomberg. This is at a premium to current JKM prices, which have fallen below $12/MMBtu in recent days.
  • Enarsa also received bids from seven companies for the country’s third round of spot LNG buying.
  • Argentina has vast gas reserves in its Vaca Muerta shale play and wants to become a net exporter, but current infrastructure is proving a bottleneck.