TotalEnergies says Argentine gas must stay under $10/mmBtu to compete in Brazil
BUENOS AIRES, Sept 8 (Reuters) - TotalEnergies said Argentine natural gas must reach Brazil at a cost below $10 per million British thermal units (mmBtu) to remain competitive, Sergio Mengoni, the company's Argentina country chair, said on Monday.
WHY IT'S IMPORTANT
Argentina's Vaca Muerta shale holds significant export potential, but infrastructure gaps and pricing could hinder competition with liquefied natural gas imports to Brazil.
KEY QUOTE
"We need infrastructure first – for Vaca Muerta gas to reach the north and be used for exports – and then for transportation tariffs in countries where the pipeline has been amortised to drop a bit," Mengoni, head of TotalEnergies Argentina, said during the Argentina Oil & Gas event in Buenos Aires.
BY THE NUMBERS
In April, TotalEnergies carried out a pilot test, exporting 500,000 cubic metres of gas per day from Vaca Muerta to Brazil's Matrix Energía for 10 days through a Bolivian pipeline.
Mengoni said the final price needs to stay below $10/mmBtu to remain competitive in Brazil.
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