Tuesday 19 July 2016

Argentina to stop LNG imports by 2022

Argentina is planning to scrap LNG imports by 2021/22.

The country’s decision follows its plans to boost domestic gas production by promoting upstream activities in the nation, including shale gas.

LNG imports are currently meeting a third of the country’s gas demand but they are also expensive for the country.

Argentine President Mauricia Macri believes the process "will take five to six years for us to stop importing gas by tanker".

According to the Argentine Oil and Gas Institute, national output rose 6.6% to an average of 121.2 million cubic metres per day in the first four months of 2016 from a ten-year low of 113.7 mcm per day in 2014.