Vaca Muerta is coming of age [GGP]

Vaca Muerta is coming of age [GGP]

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Natural Gas News

Summary

Congress has passed reforms which could place the country’s giant shale play, Vaca Muerta, on a new path of expansion. Although the country’s economic and political situation remains fragile, Argentina could become an LNG exporter by 2027. by: Ross McCracken

Vaca Muerta, Argentina’s giant shale formation, has pushed its nose into the international LNG market once before and now looks set to do so again, but on a larger scale and on a more permanent basis. Its expansion will be supported by regulatory changes introduced by free market advocate, Argentine President Javier Milei, but amid the uncertain outcome of the economic ‘shock therapy’ being delivered to the country as a whole. Milei is attempting to stabilise the economy through a twin process of fiscal reform and rebuilding the balance sheet of the central bank. Despite some early successes, the shock therapy has thrown the country into recession. Milei lacks a Congressional majority and his political survival will likely depend on his ability to bring Argentina back from the brink of economic collapse. Others have tried and failed before. Declining living standards, increased poverty and inco...

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