Argentina unveils 2024 Chile firm gas export authorization ceilings
Argentine gas producers will be able to export up to 9Mm3/d (million cubic meters a day) to Chile on a firm basis next year, the former’s foreign ministry said.
Argentina pipes virtually all its exported gas to Chile.
The bulk of gas currently dispatched is sent via the GasAndes duct, which connects Argentina’s Neuquén basin to the Santiago region.
For next year’s cold weather period, usually defined as May-September, producers can ship up to 5Mm3/d on a firm basis. For October-December, when temperatures climb and domestic demand drops, a ceiling of 9Mm3/d via GasAndes is established.
For October 2023-April 2024, officials have already authorized a maximum of 9Mm3/d via GasAndes.
In parallel, under a cooperation agreement, state-controlled hydrocarbons company YPF has been injecting around 300,000m3/d into the Pacífico duct on a firm basis and is authorized to dispatch up to 1.3Mm3/d via infrastructure linked to operations of methanol producer Methanex.
Exports of Chilean gas to Argentina generated US$688mn in 2022. Revenue has climbed apace this year, reaching almost US$560mn in January-July, up 86.8% year-on-year, the foreign ministry said.
Companies granted export quotas under Plan Gas have until September 18 to apply for the firm export authorizations, local media outlet Mejor Energía said. Argentine Plan Gas exporters include Tecpetrol, YPF, Pluspetrol and Pampa Energía.
ARGENTINE GAS EXPORTS
In August, Argentina exported 3.76Mm3/d gas, with Chile accounting for 3.44Mm3/d, down 42% year-on-year, according to data from gas regulator Enargas.
Nameplate capacity of GasAndes is 10.5Mm3/d but actual capacity is around 5Mm3/d in winter and some 9Mm3/d in summer on account of available capacity of feeder infrastructure operated by midstream concessionaire TGN.
Over the past 12 months, Argentine gas exports spiked at 10.1Mm3/d, in February.
Producers piped 330,00m3/d to Uruguay in August, up 10%.
Favorable prices, higher than the rough average of US$3.5/MMBTU obtained under Plan Gas contracts, along with a push to build firm, year-round exports, are making Chile blink brightly on the radars of Argentine producers, chiefly those operating in the Vaca Muerta unconventional formation.
The federal energy department set, for May-September 2023, a minimum price of US$7.73/MMBTU for exported Neuquén basin gas.
Nationally, gas production was 138Mm3/d, down 1.5% year-on-year.
OUTLOOK
Argentina is working to expand midstream infrastructure, to debottleneck production, substitute a large chunk of imported energy and boost gas exports. A flow-reverseral project out to tender would support the transport of Neuquén basin gas to the country's north, potentially opening the doors for increased exports to Chile via other links in place and higher exports to Brazil.
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