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Argentina’s Vaca Muerta Shale & Tight Gas Production Leads to LNG Exports - EIA

Gasoil News - Published on Tue, 16 Jul 2019

Image Source: Wikipedia
Argentina’s domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the Neuquén Basin’s Vaca Muerta shale and tight gas play. Production from Vaca Muerta surpassed 1.0 billion cubic feet per day in December 2018. As production has grown, Argentina has resumed exporting natural gas by pipeline to neighboring Chile and Brazil and has started exporting liquefied natural gas. Argentina’s first LNG export cargo was shipped on June 6 from the offshore Tango floating liquefaction unit. The growth in Argentina’s shale and tight gas production has partially offset declines in its natural gas production from mature fields. Production from Vaca Muerta accounts for about 23% of Argentina’s total gross natural gas production. The Vaca Muerta shale formation has technically recoverable resources of 308 trillion cubic feet of natural gas and 16 billion barrels of oil and condensate within 8.6 million acres, and it is geologically comparable to the Eagle Ford shale play in southern Texas. Only 4% of Vaca Muerta’s acreage has entered the development phase so far.

Argentina’s domestic natural gas production exceeds consumption during warmer months, which requires Argentina to import natural gas by both pipeline and as LNG. Because Argentina doesn’t have geologically suitable formations to serve as large-scale natural gas storage facilities, natural gas producers have to shut in surplus production to accommodate seasonal consumption patterns. Argentina is conducting feasibility studies to identify potential natural gas storage sites.

From 1990 through 2007, Argentina was a net exporter of natural gas. Since then, Argentina has been importing more natural gas both by pipeline and as LNG. Argentina imports LNG using a floating storage and regasification vessel moored at the Escobar port near Buenos Aires.

Strategic Research Institute, SteelGuru

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Posted By : Sanju Moirangthem on Tue, 16 Jul 2019
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