Argentina to Tender for LNG Cargoes Next Week to Meet Winter Demand
(Reuters) — Argentina will launch a tender process for five to six liquefied natural gas (LNG) cargoes next week to satisfy gas demand during the upcoming southern hemisphere winter, a government source said on March 13.
"Work is underway to launch the bidding process on March 17 for five or six shipments. The plan is to receive bids the week of March 25," the source said.
Argentina's first LNG tender last year resulted in the import of 10 cargoes, out of a total of 30 that year.
Argentina has not requested an additional floating regasification plant for this winter, an executive from Excelerate Energy, which has the only import facility in the South American country, told Reuters on Wednesday on the sidelines of the CERAWeek conference in Houston.
The number of LNG shipments "is going to be less than last year because there will be more natural gas availability, assuming comparable weather," Daniel Gonzalez, secretary of Energy and Mining Coordination, told reporters at the conference.
Argentina has been boosting production in its Vaca Muerta formation, the world's second-largest unconventional gas reserve and fourth-largest oil reserve, which is reaching a new monthly record, as the country aims to reduce energy imports.
In 2024, the country recorded its largest energy trade surplus in 18 years, reaching $5.67 billion, after years of trade deficits that strained its finances.
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