Looks as if the Argentina Prez is getting real serious about bringing that gas to market, via State Controlled Energy Company YPF.
Thanks to Jesinternational at IV for the info:
Latin America...a sleeping giant?
First the U.S Commerce Department sponsors a CPST
business meeting at the U.S Embassy with Oil & Gas
largest companies in the area...
Now we learn that the president of Argentina decides to move rather drastically to provide incentives for Shale Gas via high prices...and that
Chevron seems to be involved in some deals...
The above, is my interpretation reading Moonman's
post at Yahoo :
<< Argentine president Cristina Fernandez announced on Wednesday that wellhead natural gas prices are to rise substantially from current levels, an estimated 44%, with the purpose of attracting more investments and increasing production.
Argentina which is anxious to attract private investment to bring hefty shale energy resources on stream said wellhead prices would rise to 7.50 dollars per million British Thermal Units (BTU)...
“We've decided to give incentives for gas production” Cristina Fernandez said at the end of an industrial forum to which was also invited her peer from Brazil, Dilma Rousseff...
state-controlled energy company YPF hopes to lure partners to invest in the Vaca Muerta shale site, which may hold enough resources to double Argentina's oil and natural gas output.
A US Department of Energy report shows Argentina holds more natural gas trapped in shale rock than in all of Europe - a 774-trillion-cubic-feet bounty that could transform the outlook for Western Hemisphere supply...
YPF and US-based Chevron Corp have already signed a deal to consider jointly exploring for shale oil and natural gas in Vaca Muerta.>>
AI
