last Thursday, April 24, the Ministry of Energy of the Nation published the Resolution 165/25 that may have passed without too many pomp, but that marks the beginning of a new era For Argentina’s hydrocarbons, and especially for the natural gas segment, as it determines A paradigm shift in the vision of a country that stopped pursuing the goal of self -supply, and its consequent shortage of energy, to a country that He emphasizes the abundance of his resources, and that is why he approved the first export to 30 years.
Legal scaffolding for Authorize the Southern Energy consortium to export uninterrupted up to 11.7 million cubic meters of natural gas per daythe equivalent of about 6 million metric tons of liquefied gas (LNG), began to be built last year, with the reform introduced in the old hydrocarbon law through the Base Law.
There this Copernican change in the way of seeing the oil sector, Leaving aside the old premise of self -supply, pergeñada in the years in which the country was a serial importer, the vision that Vaca Muerta imposes today, with its abundance of resources.
Days before, another Resolution La 145/25, had set the requirements for LNG exports to be requested For up to 30 years, a period never before authorized by Argentine norms. This new type of long -term authorizations – the maximum that until now was 1 year – part of the projections made by Nation and published in that standard.
Is Projections realized that the Gas de Vaca Muerta exceeds too many years the possibilities of its use if only self -supply is contemplatedsince they reach to meet the demand that the country records today for others 162 yearsa date on which other technologies are expected to be used.
From there, the authorization of this new export period, and also new type, since liquefied natural gas (LNG) is also premiering its regulations in the country.
What companies integrate Southern Energy
As marked, the superlarga authorization was given to the consortium that was formed to meet the requirements of the Incentive regime to large investments (Rigi) and that was formed by Pan American Energy (PAE) next to the Norwegian firm Golar Lng which is the head of the liquefactor ships that will arrive on the Costa Rionegrina in 2027 and 2028.
These firms were then added YPF, Pampa Energía and Harbor Energy. The participation of these companies in the consortium is leading PAE with 40%, followed by Pampa Energía (20%), YPF (15%), Harbor Energy (15%) and play LNG (10%).
This consortium forms what is known as the Project 1 of the Comprehensive Plan of the Sector that is Argentina LNGthe initiative with which it is sought to export up to 15,000 million dollars annually in LNG.
The Phase 2 of Argentina LNG is the one that has been agreed under a MOU con Shell to add two other liquefactor ships, which like the stage 3 with the Italian eni, The four will be mounted in the area of Punta Colorada, further south than the first two.
To feed these ships, the construction of three large gas pipelines dedicated exclusively to each phase of the plan is projected, separated from Argentine networks. While, of course, hundreds of new wells in Vaca Muerta should be added, to have a sustained manner with up to 106 million cubic meters of gas that mark these three phases of the export plan.
Meanwhile, importation continues
The abundance of gasifier resources does not mean that gas reaches the whole countryas seen clearly in the same province of Neuquén where there are still thousands of families without access to a natural gas network.
The Lack of gas pipelines To be able to bring the fluid to the demand point, it will make this year They import about 29 LNG shipments, which can only be reduced when the extension or expansion of former Néstor Kirchner is carried out and when gas entry into the northern gas pipeline is improved.
Meanwhile, it is the state Enarsa, which estimated LNG imports for 700 million dollars For this year that You are not getting costs to the distributors to the gap between the import price and the one you can collect in your invoices. As seen last year.
Argentine gas projections
The report entitled Declaration of Availability of Gasiferous Resources in the long -term Have a panorama about gas supply To supply domestic demand and have a firm and uninterrupable base the LNG export projects.
The report was prepared by the National Directorate of Exploration and Production of the Undersecretariat of Liquid Fuels in conjunction with technicians and specialists from different universities and institutions and it is planned that it will be updated every five years or when a new magnitude export project will be presented.
The study raises three potential scenarios. The first assumes that internal consumption values are maintained, plus exports that happened in 2024, which were completely completed with local production, regardless of imports. If exports are sustained at 1,590 million cubic meters per year (mmm3), with a consumption of 41,167 mmm3, Resources would reach to supply for 162 years.
He Second scenario It contemplates the minimum values of constant LNG projects, which would be about 21,900 mmm3 per year. If natural gas exports are established in a sustained way at 7,300 mmm3 per year and an annual consumption of 73,000 mmm3, Resources would supply for 68 years.
He Third scenarioof low investment for the LNG, raises the first ship that will arrive in 2027, another in 2028 and three more between 2030 and 2035, but all low capacity. This It provides a range of 63 years taking into account the maximum values of LNG projections with 29,200 mmm3 per year.
