This equivalent to a price of US$65 per million BTU, which has an impact for a country like Argentina, which is a net importer of liquefied natural gas. It is worth remembering that last year the country imported u$s8.33one eighth of the current value of the hydrocarbon.
The jump was made due to fear of disruptions in Russian exportswhich supplies 40% of gas imports in Europe.
For the time being, Western economic sanctions have preserved Russia’s energy sector, but buyers have nonetheless been distancing themselves for fear of further measures.
The situation puts pressure on the costs of energy companies operating in Argentina. In turn, this will have an impact on state spending on subsidies. In this sense, the Government agreed with the International Monetary Fund that the rate increases will be higher than previously planned, although they may not exceed wage increases, except in the case of the higher-income population.
In this context, the executive president of YPF said this day that he sees it difficult for the sector to adjust local prices to growing international levels, taking into account the complicated reality of the Argentine economy.
“We hope to continue adjusting prices at the pumps in a sustainable manner to offset the effects of currency depreciation while also aiming to reduce, at least partially, the spillover to international prices,” he said.
YPF, which heads operations in Vaca Muerta, the world’s fourth-largest shale oil reserve and second-largest for unconventional gas, reported on Thursday that its profits fell 54.2% year-on-year in the fourth quarter to $247 million.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
