Repsol Cancels LNG Cargoes to Argentina

Source: Reuters 5/18/2012, Location: Africa

Spain's Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by Reuters showed. Argentina relies on LNG imports to meet between 20 percent and 30 percent of domestic natural gas consumption. The country will have to find a new supplier quickly to avoid energy shortfalls as demand peaks from June to September.

Repsol said in a letter to Argentine state energy company Enarsa, dated May 17, that Enarsa had breached the LNG contract by seeking to renegotiate the price of shipments and modify the timetable for deliveries. Repsol had agreed to supply Argentina with 10 LNG cargoes this year. Earlier this month, an energy sector source said the Spanish company might halt the sales.

Enarsa's conduct and the Argentine government's "unlawful and discriminatory" takeover of YPF showed the country had "no intention of complying with, or continuing to be bound by, the agreement", the letter stated. No one was immediately available at Enarsa to comment. Argentina has had difficulties securing LNG supplies due to tough price negotiations.


Canada >>  8/10/2022 - FortisBC Holdings Inc. (“FortisBC”) and Musqueam Indian Band (“Musqueam”) are announcing the signing of an agreement, which will result in the parties...
Congo >>  8/5/2022 - Eni informs that it has acquired the company Export LNG Ltd, which owns the Tango FLNG floating liquefaction facility, from Exmar group. The facility ...

France >>  8/3/2022 - Alternative data specialist QuantCube Technology announced the availability of the QuantCube Liquefied Natural Gas (LNG) Commodity Trade Indicator. By...
Canada >>  7/29/2022 - Pacific Energy Corporation Limited (Pacific Energy) and Enbridge Inc. (Enbridge or the Company) announced an agreement to jointly invest in the constr...

Italy >>  7/25/2022 - - The aim is to leverage on infrastructure and know-how of both companies, thereby contributing to decarbonisation of transport and off-grid users
United States >>  7/23/2022 - ION Commodities, the global leader in Energy and Commodity management solutions, is delighted that Golden Pass LNG, owned by affiliates of QatarEnergy...

Related Categories: Deodorization system  Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 

Related Articles: Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.