Argentina signs energy pact with Brazil and seeks resources for gas pipeline

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The new contract allows the use of the Bilateral Payment System in Local Currencies to settle purchases power. The memorandum was signed by the Executive Secretary of the Ministry of Mines and Energy, Hailton Madureira de Almeida, by the Secretary of Energy of Argentina, Flavia Royon, and by the Argentine Ambassador to Brazil, Daniel Scioli.

In the context of signing the memorandum, the government The Argentine informed that it is negotiating with Brazil to obtain financing for the next stages of construction of the Presidente Néstor Kirchner gas pipeline. This gas pipeline, the first stage of which is already under construction and will be completed in the middle of next year, will be essential for the evacuation of gas from Vaca Muerta.

The formation, the second largest reserve of unconventional gas in the world, requires greater transport capacity to move forward with its massive development. Argentina understands that the development of Vaca Muerta is essential to achieve its energy self-sufficiency and project itself as an international supplier, with Brazil as a potential market for gas from the gigantic formation through the extension of the new gas pipeline.