Southern Cone gas and power markets: 5 things to look for in 2025 Report

Insight 13 December 2024

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Report summary

Regional integration in the natural gas market is evolving as Argentinian gas manages to reach the Brazilian border via Bolivia, while Brazil experiences a reduction in imports from Bolivia and increased supply from domestic production, supported by new infrastructure like the Complexo Boaventura and initiatives such as "Gas para Empregar." As for the power sector, new developments are expected in both Argentina and Brazil to enhance market predictability. In Argentina, there is still uncertainty regarding how new plants will be hired in 2025 following the cancellation of TerConf. In Brazil, on the other hand, there is great anticipation for two major initiatives from 2024: a capacity reserve auction and a battery auction.

1. Argentina exports: first Argentinian gas will reach Brazil through Bolivia
2. Game changer? Argentina needs FID on key export projects to keep gas production growing
3. Brazil: new gas sources, same market structure
4. Brazil's two big power auctions for 2025 are expected to have strong participation from players
5. Argentina's Milei power sector reform