Argentina to Rely on Single LNG Import Terminal This Winter, Excelerate Says
(Reuters) — Argentina has not requested an additional floating regasification plant from Excelerate Energy for the winter to come, a company executive said, as the South American country plans lower imports of liquefied natural gas this year.
Derek Wong, Excelerate's vice president of government relations, told Reuters on the sidelines of the CERAWeek conference in Houston that the floating storage and regasification unit (FSRU) the company has in service, the only import facility in Argentina, might be enough to meet demand again this year, depending on weather conditions.
Costly LNG imports have been a problem for Argentina in the past, but increasing domestic output of natural gas has allowed lower imports of gas via pipeline from Bolivia and also of LNG cargoes in recent years.
Argentina's Economy Vice Minister and Head of Energy Daniel Gonzalez said earlier this week at the conference that the country this year would import fewer LNG cargoes than last year, but declined to elaborate on figures.
Cold winters in the Southern Hemisphere typically increase gas consumption in Argentina, sometimes creating the need to put another FSRU in service.
Last year, only one FSRU was needed to import 30 LNG cargoes during the winter, while in the two previous years between 41 and 44 cargoes were imported through FSRUs at Bahia Blanca and Escobar.
Following President Javier Milei's economic reforms, Argentina last year had a $5.7 billion surplus at its energy trade balance, a big achievement for a country that had struggled to cover the cost of energy imports in previous years.
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