Argentina’s spot market is becoming a popular destination for LNG shipments from the Middle East and Africa (MEA).
Argentina has been Latin America’s third-largest importer of LNG after Chile and Mexico this year despite the fact that it is reducing its dependence on the fuel. Nevertheless, suppliers in the MEA are interested in Argentina partly because the country procures LNG on the spot market. This has given Qatar, Equatorial Guinea and Nigeria an opportunity in the Argentine market. Argentina expects to take 31 LNG cargoes in H1 2017 and has already procured 28 of them. The three MEA countries have supplied 18 of these shipments.