Argentina’s Enarsa to spend $567 million on LNG purchases

Argentina's state-owned LNG importer, Energia Argentina (Enarsa), will spend about $567.5 million to purchase 22 liquefied natural gas (LNG) cargoes from BP and TotalEnergies this year.

Enarsa revealed this in a document posted on its website after it completed three tenders seeking spot cargoes.

Each of the cargoes, with a capacity of 2,100,000 MMBtu, is expected to meet peak seasonal demand for natural gas.

The document shows that Enarsa selected BP’s unit, BP Gas Marketing, to supply all six LNG cargoes from April to June to the Escobar terminal as part of the first tender.

BP delivered three LNG cargoes from the Atlantic LNG terminal in Trinidad and Tobago and one shipment from Venture Global’s Calcasieu Pass facility in the US, while the origin of two cargoes has not been revealed.

The average price for these six LNG cargoes is 13.666/MMBtu, or about $172.19 million in total for all the shipments.

Moreover, Enarsa also selected BP Gas Marketing to deliver all eight LNG shipments from June to July as part of the second tender.

The origin of these cargoes has not been revealed.

The average price for these eight LNG cargoes is 11.477/MMBtu, or about $192.81 million in total for all of the shipments.

Additionally, Enarsa selected BP Gas Marketing to deliver one shipment in August under the third tender.

TotalEnergies won seven cargoes under this tender.

The origin of these cargoes has not been disclosed, while the average price for these eight LNG cargoes is $ 12.054/MMBtu, or approximately $202.5 million in total.

30 LNG cargoes in 2024

Enarsa’s website shows that the firm purchased 30 LNG cargoes under five tenders in 2024. This is down from 44 LNG cargoes in 2023.

The LNG suppliers included TotalEnergies, Glencore, BP, Trafigura, Gunvor, as well as Vitol.

Enarsa paid between $9.991/MMBtu and $13.624/MMBtu for the 2024 LNG cargoes.

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