Argentina well-positioned to supply world with energy, says Pan American Energy executive

Argentina possesses a strong potential to become a global energy supplier, highlighted Juan Martín Bulgheroni, chief of staff at Pan American Energy. He noted that international priorities have shifted from sustainability to energy security, driven by geopolitical conflicts like the one in Ukraine and tensions in the Strait of Hormuz. This shift creates a demand for dependable energy providers.

Bulgheroni explained that Argentina's geographical location, once seen as a disadvantage due to distance, is now considered an asset. The country boasts surplus resources equivalent to six times its consumption for the next 30 years. "From Argentina, we can reach the Pacific and the Atlantic without passing through conflict zones. We are far, but that gives us security, a competitive cost, and the ability to reach markets," he told José del Río, secretary general of news at LA NACION.

A significant focus is the Gas Natural Licuado (GNL) project, a joint venture involving Southern Energy, YPF, Pampa Energía, Harbour Energy, and Golar. This initiative, with an investment of $21 billion, aims to export six million tons of gas annually using two liquefaction vessels. "This is a country-export project. We will export six million tons per year with two ships: one arrives next year and the other in 2028. Those six million tons represent 60% of Argentina's industrial consumption capacity," Bulgheroni stated.

Beyond new ventures, Pan American Energy continues to invest in its established assets, such as the Cerro Dragón field. The company has confirmed shale gas presence and received provincial authorization to develop it as a non-conventional hydrocarbon exploitation concession, while continuing conventional activities. Bulgheroni also announced the company's application under the "Régimen de Incentivos para Grandes Inversiones" (RIGI) for a tertiary recovery project at Cerro Dragón, the first of its kind for the conventional upstream sector, involving the installation of 20 injection plants to enhance oil extraction efficiency.