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EU Eyes LNG Imports From Argentina

LNG

The European Union is considering possible gas imports from Argentina, as the country is planning to ramp up natural gas production, a draft document seen by Reuters showed.

  • Both sides signed a draft MoU on Monday that said any gas trade should not impact Argentina's own consumption needs, and the two sides' targets to curb climate change.
  • "The participants endeavor to cooperate towards enabling a stable delivery of LNG from Argentina to the European Union," said the document.
  • Argentina is currently expanding natural gas production at Vaca Muerta, a shale formation in Patagonia.
  • But the EU also expects its gas use to fall by the end of the decade as it seeks to meet climate change goals. "By the time the Argentinean gas comes online - and they don't even have the full export infrastructure to do so [to export gas to Europe] - I don't think the European Union will need that gas any longer," Lisa Fischer, Programme Lead at climate think tank E3G, said.
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