Supply & Demand

Currency crisis to hit Argentina’s gas prospects

Argentina’s aim to become self-sufficient in gas production could be jeopardised if the country’s currency crisis worsens Argentina’s aim to become self-sufficient in gas production could be jeopardised if the country’s currency crisis worsens.
By Abhishek Kumar 25 June 2018 0 31393
Argentine peso weakens to an all-time low of 23.5 per dollar on 8 May 2018 Investors have so far kept their faith in the Argentine upstream sector despite the peso weakening to new lows (PA)

Argentina is grappling with a fully fledged currency crisis that has dented investor confidence in the country. The Argentine peso fell to an all-time low against the United States dollar in May. The crisis is forcing Buenos Aires to cut back on energy imports, a move that has already taken its toll on Argentina’s appetite for LNG and could weigh on its overall gas demand. Investors have so far kept their faith in the Argentine upstream sector, but this may not last if the situation...