Argentina's state-owned gas importer ENARSA will start buying liquefied natural gas in early March, ahead of the start of the southern hemisphere winter, according to traders familiar with the matter.
The South American importer relies heavily on spot LNG cargoes during most of its winter, which typically runs from late April to early September. Colder temperatures increase demand for the heating fuel, and Argentina's re-entry into the spot market may restrict immediate supply and put the country in competition with buyers in Asia and Europe.
ENARSA's first purchase tender could be launched early next month for future deliveries, said traders who requested anonymity because the talks are private. The volume requested is likely to be similar to demand in 2024, according to one of the traders.
Argentina's Energy Secretariat typically calculates natural gas demand and then commissions state-run ENARSA to submit bids for LNG cargoes. A spokesman for the ministry did not immediately respond to a request for comment.
Argentina imported 1.5 million metric tons of LNG in 2024, its lowest level since 2019. Demand has fluctuated in recent years and fell in 2024 due to the start of a major pipeline connecting Vaca Muerta shale supplies to Buenos Aires.
The country is about to revive its own plans to export gas via LNG, although the proposed projects still need financing before construction and supply to global markets can begin.
by Ruth Liao, Bloomberg
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