Felicity Bradstock
Felicity Bradstock is an independent author specialising in Energy and Finance. She has a Master’s in International Development from the University of Birmingham, UK.
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By Felicity Bradstock – Dec 22, 2024, 10:00 AM CST
- Argentina is increasing oil and gas production, especially from the Vaca Muerta shale development.
- The nation is establishing its renewable resource sector with enthusiastic targets for solar and wind power.
- Argentina is an essential gamer in the lithium triangle, with considerable capacity for important mineral mining.
Argentina is ending up being a worldwide energy powerhouse by stabilizing its energy mix of nonrenewable fuel sources, renewable resource, and important mineral mining. The South American nation has actually long been understood for its oil and gas production, however it now looking towards establishing its solar and wind possessions. In addition, it has actually ended up being well-known for its strong mining market, forming part of the lithium triangle, along with Chile and Bolivia. If Argentina can effectively continue diversifying its energy mix, it might guarantee its long-lasting energy security and support a worldwide green shift through its important minerals production.
Oil and gas production reached near tape highs in 2024, supported by greater output from the Vaca Muerta shale development, in spite of the decreasing output seen in a few of its more fully grown fields. In between January 2021 and September 2024, Argentina’s unrefined production increased by around 50 percent, while its gas output increased by 27 percent, bringing overall production to nearly its early 2000s peak.
The U.S. Energy Information Administration (EIA) approximates that Vaca Muerta, in Argentina’s Neuquén province, holds around 308 trillion cubic feet of technically recoverable shale gas and 16 billion barrels of recoverable shale oil and condensate. The South American state ranks in the leading 5 on the planet for shale petroleum and gas resources. In September, Argentina’s unrefined output balanced 738,000 bpd, which was 15 percent greater than in September 2023, and the most in any month considering that 2003. The nation balanced 5 billion cubic feet per day (Bcf/d) of natural gas output in the very first 9 months of 2024, 5.2 percent greater than the very same duration in 2023.
In August, Rice University’s Baker Institute for Public Policy in the U.S. revealed a brand-new effort concentrated on the Argentinian energy sector to motivate more conferences, reports, and workshops. The objective is to unite leading specialists and policymakers to study the nation’s energy sector capacity, concentrating on oil and gas expedition and production, energy facilities, and the involvement of the mining sector in the renewable resource shift, to attain a multiparty agreement for the optimum advancement of the nation’s energy.
In December, Central Puerto, Argentina’s leading electrical energy generator, and the World Bank Group’s International Finance Corporation revealed the finalizing of an offer to perform expediency research studies for the very first electrical energy transmission line to provide renewable resource to mining business in the northwest of the nation.
