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AMERICAS OIL: Argentina Looks to Purchase Winter LNG Imports in Early March

AMERICAS OIL
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Argentina Looks to Purchase Winter LNG Imports in Early March: Bloomberg

  • Argentina’s gas importer Enarsa is set to begin buying liquefied natural gas in early March ahead of the start of winter in the Southern Hemisphere, according to traders familiar with the matter.
  • The South American importer heavily relies on LNG spot cargoes throughout the bulk of its winter, which typically lasts from late April to early September. Colder temperatures drive up demand for the heating fuel and Argentina’s reentry into the spot market can tighten prompt supplies and put the country in competition with buyers in Asia and Europe.
  • Enarsa’s first buy tender could be launched early next month, said the traders who asked to speak anonymously because the discussions are private. The volume requested is likely to be similar to demand in 2024, according to one of the traders.
  • Argentina imported 1.5 million metric tons of LNG in 2024, its lowest level since 2019. Demand has fluctuated in recent years and dropped in 2024 due to the start of a major pipeline linking Vaca Muerta shale supplies to Buenos Aires.
  • The country is on the cusp of reviving its own plans to export gas via LNG, although proposed projects still need to be financed before launching construction and supplying to global markets.  
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Argentina Looks to Purchase Winter LNG Imports in Early March: Bloomberg

  • Argentina’s gas importer Enarsa is set to begin buying liquefied natural gas in early March ahead of the start of winter in the Southern Hemisphere, according to traders familiar with the matter.
  • The South American importer heavily relies on LNG spot cargoes throughout the bulk of its winter, which typically lasts from late April to early September. Colder temperatures drive up demand for the heating fuel and Argentina’s reentry into the spot market can tighten prompt supplies and put the country in competition with buyers in Asia and Europe.
  • Enarsa’s first buy tender could be launched early next month, said the traders who asked to speak anonymously because the discussions are private. The volume requested is likely to be similar to demand in 2024, according to one of the traders.
  • Argentina imported 1.5 million metric tons of LNG in 2024, its lowest level since 2019. Demand has fluctuated in recent years and dropped in 2024 due to the start of a major pipeline linking Vaca Muerta shale supplies to Buenos Aires.
  • The country is on the cusp of reviving its own plans to export gas via LNG, although proposed projects still need to be financed before launching construction and supplying to global markets.