Argentine debt mars rewards for gas producers

Argentina is offering generous rewards for gas production, but companies may have to wait for Buenos Aires to clear its debts Argentina is offering generous rewards for gas production, but companies may have to wait for Buenos Aires to clear its debts.
By Chris Noon 6 July 2017 0 26648
Argentine President Mauricio Macri has issued nearly $19 billion in debt. (PA)

Argentina’s mounting debt is delaying the country’s generous stimulus payments to gas producers, according to Buenos Aires-based sources.

"There appears to be a backlog in incentive payments that stems from Argentina’s debt," said a source close to the country’s Energy Secretariat, who wanted to remain anonymous.

Daniel Gerold of Buenos Aires-based G&G Energy Consultants confirmed the stimulus payment initiative, known as ‘Plan Gas’, may have been affected by Argentina’s large outstanding debt.

Buenos Aires paid ARS 5.78 billion ($363 million) to companies under Plan Gas in February...

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