SKU: 135270
Author: Wood Mackenzie

Insight 08 February 2021

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Report summary

Argentina’s Secretary of Energy disclosed the results of the Gas Scheme 2020-2024 tender at the end of last year. From the 70 Mcmd volumes offered for the next four years, 67.42 Mcmd were awarded. 94% of the volumes offered at nominal prices above US$3.4/mmbtu. The Gas Scheme tender was a success in the sense that production will stop declining, pausing Argentina’s rising diesel and LNG imports. But as demand recovers in 2022, new gas tenders will be required to secure new gas supply capacity to avoid further increases in imports. In this report, we analyse the Gas Scheme results, focusing on: • Gas supply availability for the next three years • Remaining requirements for Bolivian gas and LNG imports • Why producers didn’t meet the full volumes offered • The need for future gas tenders

What does it mean in terms of gas supply?
How much Bolivian gas and LNG imports are required for the balance?
How much gas will be available for exports to Chile and other countries?
What are the commercialisation options for uncontracted volumes in the domestic market?
Why didn’t the producers meet the full volumes offered?
Housekeeping
New tenders
Gas pipelines expansion and fostering exports

Tables and charts

This report includes the following images and tables:

Gap between average Q3 2020 net gas production capacity in Neuquen and Gas Scheme commitments of companies that submitted offers
Gap between average Q3 2020 net gas production capacity in South and Gas Scheme commitments of companies that submitted offers
Net gas production forecast under minimum secured investment scenario vs WoodMac forecast production capacity

WoodMac forecast gas imports vs gas imports estimated under minimum secured investment scenario
WoodMac forecast gas exports vs gas exports forecast under minimum secured investment scenario
New gas tenders required to supply future demand