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Wednesday, March 29, 2023

They highlight an encouraging outlook for the energy sector in 2023

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Within this framework of productive growth, he reviewed the report, energy exports also gained momentum. “In this sense, the oil-petrochemical complex shows increases of 35% in exported volumes and 78% in dollars generated by exports, totaling US$6,771 million in the first eleven months of 2022. In this sense, The bulk of foreign energy trade is concentrated in petroleum oils and fuel supply to ships and aircraft, which accounted for 77% of exports in 2022”.

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With this scenario, the BCR assured that “Oil prospects for 2023 are encouraging.” “In addition to the increases in quantities and prices with which 2022 ends, It is projected to further deepen oil exports by 2023. Thus, the Trans-Andean Pipeline would finally be reactivated, which after 17 years will once again export oil to Chile. Likewise, the Duplicate Project of the Oleoductos del Valle (Oldelval) towards Puerto Rosales, the main cargo terminal and one of the main sources of crude oil exports in Argentina, to the south of the province of Buenos Aires, is advancing. This project would make it possible to increase the capacity to transport oil from the Neuquén basin to deepen the production and export of energy, ”he stressed.

“Secondly, Gas prospects in Argentina expect a key 2023. In this sense, The Néstor Kirchner Pipeline aspires to be the great novelty for Argentine gas. June 20, 2023 is the tentative date to inaugurate the first section of the brand new gas pipeline, which goes from Tratayén (Neuquén) to Salliqueló (Buenos Aires)”, the study remarked and analyzed: “Based on data from the Ministry of Economy, If this gas pipeline had been operational this year, US$4.9 billion in imports would have been saved. Savings for the coming winter are expected to reach more than US$1.4 billion with the first stage completed alonewhile construction progresses and the opening of more tenders for this first stage of the gas pipeline”.

The study also mentioned the good prospects that the production of biofuels has -even with multiple challenges and pending projects- for this 2023; as well as nuclear energy (after the scheduled technical shutdowns that the Atucha I and II and Embalse plants had. “With these technical stoppages overcome, nuclear energy could recover its weight in power generation by 2023,” the report highlighted.

Analysis, projections and challenges

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In this regard, days ago from the consulting firm Abeceb they indicated that the growth of gas production this year “will be between 4.5% and 6%, finding the transport capacity of the system as a limiting factor”. “The variation will depend on the completion of the Néstor Kirchner gas pipeline,” they said from the firm. “Secondlycrude oil production in 2023 will grow by 13%, due to increased exports and high productivity in Vaca Muerta”they added.

Regarding natural gas, I think that obviously in 2023 it will continue with the same growing trend of production. Above all, fractures, as was observed last year, with an increasing slope as a result of the Gas.Ar Plan. And, evidently, the extension of the plan in December of this year is also another of the consequences that orders the prospects for the demand, especially the price of the demand, for the next four years. I think it is a step forward, ”he analyzed Ambit Roberto Carnicer, director of the Institute of Energy of the Austral University.

“Having firmly promoted the development of exports is another of the factors of great importance for Vaca Muerta to continue developing and production to continue developing, to supply Chile especially, given the infrastructure we have for that country. From this point of view, production will continue to grow”detailed the specialist.

Carnicer also highlighted as a key point the completion of the first section of the pipeline Néstor Kircher: “If in June of this year it ends in time and form, we will have the capacity to reduce imports by 11 million m3/day. But evidently the problem of demand and importation has not been resolved. And we must continue expanding the transport system to be able to satisfy the domestic demand in the winter period”.

Another of the challenges to address this year, he remarked, are the rates. “It is another pending issue that the Government has”maintained Carnicer, who detailed: “The treatment of rates, in a period of inflation like the current one, is a very difficult issue. The rates do not have to stop updating in 2023, it is an imperative need, because it generates sensations of high rates: and it is inflation that generates the problem of high rates.

“The other matter of importance, is that companies are thinking about LNG projects, This is essential for Argentina: not only supply the domestic market, but also the export market through LNG. And the projects that are in the works, I think they can be a very important solution to move gas from Argentina to any part of the world”, he concluded.

Source: Ambito

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