Accumulated energy subsidies were $2.6 billion in the first half of 2020, double the same period last year, according to the IAE report.This week the Argentine government also announced it had reached a preliminary agreement with its biggest creditors to restructure $65 billion in foreign debt. See the chart below to see a comparison of San Marcos natural gas prices against U.S. average prices. Thermoelectric power, principally from natural gas, has accounted for 62% of power generation in 2020, according to the report.So far in 2020, the prolific Vaca Muerta shale formation has accounted for roughly 25% of all natural gas production in the country.June natural gas production in Vaca Muerta was 31.6 MMm3/d, or 1.12 Bcf/d, compared with 32.8 MMm3/d, or 1.16 Bcf/d, in June 2019.

Since becoming a net natural gas importer in 2008, Argentina has imported natural gas by both pipeline and as LNG throughout the year. © 2020 Natural Gas Intelligence. Led by partially state-owned YPF, Chevron… The government said the agreement will allow creditor groups to support Argentina’s debt restructuring proposal and “grant Argentina significant debt relief.”If the deal goes ahead, along with another debt agreement pending with the International Monetary Fund, Argentina will regain access to foreign capital markets, which is seen as key to lifting an economy that is now in its third straight year of recession. Argentina, March 2020: The price of natural gas is 0.013 U.S. Dollar per kWh for housebolds and 0.017 U.S. Dollar per kWh for businesses. Listen to the latest episode of our newest podcast For comparison, the price of natural gas in the world in that month is 0.05 U.S. Dollar per kWh for households and 0.05 U.S. Dollar per kWh for businesses. On a year-over-year basis, residential natural gas prices in San Marcos (California) increased approximately 0%, from 13.65 $/Mcf (March 2019) to 13.69 $/Mcf (March 2020). Gas production out of Vaca Muerta in June rose slightly compared to May, when production was 29.4 MMm3/d, or 1.04 Bcf/d.The largest producers in June in Vaca Muerta were Argentina’s Tecpetrol SA (437 MMcf/d), followed by state oil firm YPF SA (261 MMcf/d), and the local subsidiary of France’s Total SE (170 MMcf/d).In response to the demand destruction and adverse market conditions, the Argentine government has instituted a $45/bbl oil price floor for producers to try to motivate exploration and production. Argentina, March 2020: The price of natural gas is 0.013 U.S. Dollar per kWh for housebolds and 0.017 U.S. Dollar per kWh for businesses. Subscribe to unlock more news, insight, & data. Argentina holds 11 trillion cubic feet (Tcf) of proven gas reserves as of 2017, ranking 37th in the world and accounting for about 0% of the world's total natural gas reserves of 6,923 Tcf. This means it has about 6 years of gas left (at current consumption levels and excluding unproven reserves). These rates include all taxes, fees and other components of the gas bill.

Fortunately, natural gas leaks are very rare. Earlier this year, the vice president of the Argentine Energy Institute, Gerardo Rabinovich, © 2020 Natural Gas Intelligence. June’s production was up marginally from May, when production was 4.39 Bcf/d.Electric power demand in Argentina rose by 1% in June to 358.3 GWh/d. All rights reserved. Argentina is the eighth-largest country in the world and is South America’s largest natural gas producer, as well as a significant producer of oil.
Follow the topics you want and receive the daily emails.Natural gas production in Argentina decreased by 10% year/year in June to 126 million cubic meters/day (MMm3/d), or 4.45 Bcf/d, according to the latest report by the IAE Argentine Energy Institute.Analysts attributed the drop to restrictions in place because of the coronavirus pandemic and “a level of demand notably different from the same month last year.” Argentina has had one of the strictest lockdowns in place globally since the pandemic began to spread in March. Every week you will receive an e-mail with the latest global petrol prices (we do not spam). Natural gas is flammable - a single flame or even a spark in the area of a leak, could cause an explosion. Explosions are even more uncommon - the mixture of natural gas and oxygen in the air must be at a … For API: fuel, electricity and natural gas price data feed Compare San Marcos natural gas costs to overall U.S. average costs. Argentina offers one of the more interesting opportunities for shale energy development, solid for oil but particularly promising for natural gas. In the last two years, with the growth in domestic production, Argentina has been importing LNG only during cooler months (March through October). Natural gas production in Argentina decreased by 9.2% year/year in May to 124.4 million cubic meters/day (MMm3/d), or 4.39 Bcf/d, according to the latest report by … Argentina has proven reserves equivalent to 6.5 times its annual consumption.

Natural gas production in Argentina decreased by 10% year/year in June to 126 million cubic meters/day (MMm3/d), or 4.45 Bcf/d, according to the latest report by the IAE Argentine Energy Institute. Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. Turmoil wrought by the global pandemic has upended activity across the energy sector and led to massive layoffs, with staffing forecast to plummet by year’s end to its lowest level in more than a decade. Sign in to get the best natural gas news and data. It’s expected that new laws onThese policies, while propping up upstream activity, mean rising government subsidies in the sector.