As a sign of just how serious Vaca Muerta is now being taken, Fernández said the country’s Energy Secretary, aka its Department of Energy, would move to Neuquén province as part of a “decentralization” push. The president spoke from the oil and gas fields at Loma Campana, considered one of the flagship developments of Vaca Muerta.

Es un recurso de clase mundial que está cambiando la realidad energética del país a partir de la producción de gas y petróleo no convencional. Principal contributors: Faouzi Aloulou, Victoria Zaretskaya, Tags: Get access to 100,000+ more news articles & industry data.

An email confirming your password has been sent. Local borrowing rates were running above 60% in pesos and more than 10% in dollars, reducing potential returns on any investment. Get our news on your inbox! The secretariat has forecast that the country's overall gas output could double to 260 million cu m/d in 2023 from 2018, taking exports to more than 80 million cu m/d in 2023 and growing from there as the country builds liquefaction capacity.

Please use the button below and we will bring you back here when complete. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Vaca Muerta is a giant oil and gas field, encompassing conventional and unconventional resources, located in the Neuquen Province of Argentina. Sign In, Listen to the latest episode of our newest podcast, Weekly Estimated EIA Storage Injection/Withdrawal. A welcome email is on its way. Future development in Vaca Muerta The stimulus plan means “working to guarantee the gas that Argentina needs to live and to produce, and stop the thinking that we have to import gas,” Argentine President Alberto Fernández said at an event at Vaca Muerta. To continue reading you must login or register with us. Argentina’s domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the Neuquén Basin’s Vaca Muerta shale and tight gas play. Monthly and yearly energy forecasts, analysis of energy topics, financial analysis, congressional reports. Greenhouse gas data, voluntary reporting, electric power plant emissions. In this report, we look at the 30 big tech themes for 2019, identifying winners and losers for each theme. Natural gas from Vaca Muerta is transported by an existing pipeline network to the port of Bahía Blanca, where it is liquefied at Tango FLNG. chris.lenton@naturalgasintel.com, Natural gas traders waking up with any neck pain on Friday may have a case of whiplash after Thursday’s wild ride in the futures market. There was an error, please provide a valid email address. Argentina’s domestic natural gas production exceeds consumption during warmer months (October through April), but production is insufficient to meet demand during colder months (May through September), which requires Argentina to import natural gas by both pipeline and as LNG. BUENOS AIRES — Argentine President Alberto Fernández is readying a sweeping plan to encourage local producers to increase natural gas production, the government said on Wednesday, hoping to ramp up output from the country’s massive Vaca Muerta shale formation. Argentina’s first LNG export cargo was shipped on June 6 from the offshore Tango floating liquefaction unit (FLNG). If you are a premium subscriber, we are unable to send you a link to reset password for security reasons. Reports requested by congress or otherwise deemed important. Access latest agriculture news and analysis, conferences and events. A total of seven blocks including Aguada Pichana, Sierras Blancas, Cruz de Lorena and Coiron Amargo Sur Oeste, San Roque, Rincón La Ceniza, Bajada de Añelo and La Escalonada are being developed for harnessing the unconventional resources of the field. The tenders would total 70 million cubic meters/day, or 2.47 Bcf/d, just over half of current production. -- Charles Newbery, newsdesk@spglobal.com, -- Edited by Pankti Mehta, newsdesk@spglobal.com. Sign in to get the best natural gas news and data. Short, timely articles with graphics on energy, facts, issues, and trends. Financial market analysis and financial data for major energy companies.

The Sierras Blancas and Cruz de Lorena blocks are owned by Shell Argentina (90%) and Gas y Petroleo de Neuquen (10%). NGI All News Access. Bur Mr Diego must be living in someother country, We are a rich country but if we are not stupid we come close, we dont honour our debts, we are a totally mismanaged country, there is the problem Diego !!! This would completely overturn the current economic imbalance of your once great land — that a century ago was considered one of the five wealthiest countries in the world! Image courtesy of Shell. The other two potential bidders are TGS and Tecpetrol, the biggest gas producer in Vaca Muerta and part of Techint Group, a leading global maker of steel pipes.

365 Bloor Street East, Toronto, Ontario, M4W 3L4. The block is owned by YPF (51%, operator), Shell (24.5%) and Equinor (24.5%). Energy use in homes, commercial buildings, manufacturing, and transportation. But without the pipeline and export capacity, Gerold warned that producers were going to have to hold off on projects to increase gas production, slowing potential export growth as producers shifted from gas to oil, which has ample capacity for increasing production and exports. © 2020 Natural Gas Intelligence. Energy-Related Carbon Dioxide Emissions, Energy-Related Carbon Dioxide Emissions at the State Level, 2005-2016, Energy-Related Carbon Dioxide Emissions at the State Level, through 2017, Monthly Crude Oil and Natural Gas Production ›, Midwest and Rocky Mountain Transportation Fuels Markets, East Coast and Gulf Coast Transportation Fuels Markets, Growth in Argentina’s Vaca Muerta shale and tight gas production leads to LNG exports, Secretaría de Gobierno de Energía de Argentina. McDermott received a contract for providing pre-front-end engineering design (Pre-FEED) services for the Vaca Muerta liquefied natural gas facility development from YPF in July 2019. EIA's free and open data available as API, Excel add-in, bulk files, and widgets. Energy & Financial Markets: What Drives Crude Oil Prices? YPF is developing a natural gas liquefaction facility with five million tonnes per annum (mtpa) capacity and potential capacity of 10mtpa will be constructed at Vaca Muerta field in Argentina. Pilot scale operations have been performed at some of the blocks including Aguada Pichana Este, Rincón La Ceniza and La Escalonada, which demonstrated the long-term feasibility of the unconventional shale oil resources. The government expects the plan to help increase tax collection by some US$ 2.5 billion and a bump up its fiscal balance. These pipelines were previously used to transport imported LNG from an FSRU moored offshore at Bahía Blanca. In 2018, Argentina began exporting gas again to neighboring countries and in 2019, it contracted a floating liquefied natural gas (LNG) production barge to send out small-scale LNG. In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post. Argentina's Energy Secretariat extended the deadline for bidding for a $800 million project to build a pipeline for moving natural gas out of Vaca Muerta, a key for increasing output and exports from the country's biggest shale play. It’s free and easy to do. Shell and Equinor jointly acquired the 49% interest in the block in January 2020 that was previously held by Schlumberger. We encountered an issue signing you up.

The government has previously indicated that producers will need to commit to sustaining or increasing production at 2020 levels, and will be allowed to increase exports outside of the winter period when domestic gas demand is lower. Argentina President Alberto Fernández unveiled the country’s long-awaited natural gas scheme on Thursday from the heart of the Vaca Muerta shale formation in Neuquén province. The gas plan is to save Argentina $5 billion in imports to cover seasonal demand, officials said. The development will include drilling of wells and infrastructure expansion to increase the production and processing capacity from the existing 12,000 barrels of oil equivalent per day (kboe/d) to more than 40kboe/d by 2021 and up to 70kboe/d upon full development. "With a reasonable price of gas and regulations to favor investment, Argentina has the possibility of having more gas than it demands," he said.

From 1990 through 2007, Argentina was a net exporter of natural gas. Argentina, which is bracing for a 12% economic contraction this year, has struggled to capitalize on Vaca Muerta, one of world’s largest reserves of shale oil and gas.

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