Protests continue to hinder shale operations in Argentina: press
Argentine media reported April 28 that roads leading to the Vaca Muerta shale region remain blocked for the fourth straight week as protests continue over salaries.
Salary disputes in Argentina are relatively common given the high rate of inflation in a nation that has a troubled relationship with lenders at the International Monetary Fund.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Argentine media outlet Ambito Financiero put the loss to regional operators in the millions of dollars since protests began weeks ago. Road blockades have also led to fuel shortages elsewhere in the region.
Social organisations, the news agency reported, have set up camps along the roadways in Neuquen province, home to the Vaca Muerta shale, and plan to stay for an indefinite period of time.
Reports by the Bloomberg news agency say natural gas production in the region is about 10% below average and about 70 crews deployed in Vaca Muerta are unable to work because of the protests and roadblocks.
Spanning an estimated 7.5mn acres in total, Vaca Muerta is among the largest shale basins in the world. The US Energy Information Administration (EIA) estimates the basin holds about 308 trillion ft3 of natural gas and 16bn barrels of oil and condensate.
State energy company YPF declared March 19 that a $1.5bn investment in the shale basin could boost natural gas production by as much as 70%. Argentina is looking at developing an LNG terminal to market Vaca Muerta's gas internationally.
YPF plans a presentation for investors on April 30.