Bankrolling the Vaca Muerta
Buenos Aires will pay out billions to keep the sector afloat despite Argentina’s stark economic crisis
Argentina will spend more than $5bn over the next four years as part of a new government initiative to support the country’s gas sector and develop its prolific Vaca Muerta shale reserves. The scheme aims to cut gas imports by 589.75mn ft³/d (16.7mn m³/d) through to 2023, lessening the financial burden on Argentina and improving national energy security. The government will spend $1.49bn on the gas subsidy plan in 2021 and then over $1bn per year until 2025. Gas production of c.2.47bn ft³/d will receive a subsidy, although the government will only cover the difference between the price realised when the gas is auctioned and a ceiling price of $3.70/mn Btu. “In the past, we have seen how gas
Also in this section
13 January 2025
With Namibia, Guyana and Brazil playing starring roles and important innovations being developed, business as usual has never looked so good
13 January 2025
Regional cooperation over the development of gas resources has the potential to bring peace and prosperity to the East Mediterranean
13 January 2025
Significant expansions are underway in both liquefaction and regasification capacity as LNG firms up its position as a long-term solution for the world’s energy needs
10 January 2025
New Petroleum Economist OPEC+ oil survey sees group improve compliance to ensure oil market stability going into 2025
