The head of the Palacio de Hacienda pointed out that “the regime will allow companies to access the necessary foreign exchange to guarantee the special equipment required to obtain incremental production.”
The scheme “seeks to generate a greater flow of currency between Argentina and the rest of the world, so that there are more dollars in the country, and thus be able to grow more and generate more work,” said Guzmán.
The regime will allow access to foreign currency to companies that produce 20% (in the case of oil) and 30% (natural gas) over the last 12 months, more than the volume obtained during 2021.
In addition, it will grant additional percentages for the coverage of the domestic market, the reversal of the technical decline, the incremental production in low-productivity wells, the contracting of local special service companies, and the investment.
Both Fernández and Guzmán agreed that the current context presents “an opportunity” for the country.
“Argentina has a formidable opportunity for the future in a world that will demand food and energy,” stressed the president, who emphasized that the country “has everything that the world demands in terms of energy.”
In that sense, he gave gas as an example, where the country is presented as a “huge source with immense export potential,” and highlighted the Gas.Ar Plan for production incentives, which “allows Argentina to save around US $6,000 million of gas that previously had to be imported”.
“When we arrived, there were voices that said that Argentina was on the way to an energy collapse and I see the numbers of YPF that does not stop growing and that also happens to the rest of the producers,” questioned the President.
Within this framework, Fernández announced that the executive will send a law to Congress to “clearly establish the conditions under which the creation of gas liquefaction plants and their operation are promoted,” in addition to granting “certainty in the future for investments.”
The liquefaction plants will allow the shipment of Liquefied Natural Gas (LNG) for export and the Government is analyzing the construction of one in Bahía Blanca.
“We have to pay attention to the gas liquefaction plant so that we can do it as soon as possible. Surely we will have the operation and the necessary partners,” Fernández said in reference to said project.
For his part, the president thanked the outgoing Secretary of Domestic Trade, Roberto Feletti for “all the work done” during his administration.
“In the morning I spoke, and I take the opportunity to say goodbye and thank him for all the work done, with Roberto Feletti. I listened very carefully to someone who has worked very closely with us and has put all his efforts, but who had to face this unique moment,” said the Head of State.
Finally, Fernández stressed that the economy is “growing” and that the government must “work” to “improve the distribution of that growth” and that it “becomes development.”
Source: Ambito
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