Page 9 - GLNG Week 10 2022

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Argentina reportedly in discussions

with several potential LNG suppliers

POLICY ARGENTINA’S Economy Minister Martin Guz- prices have risen significantly since the end of the
man said during the CERAWEEK conference last winter in the Southern Hemisphere.
in Houston on March 9 that Buenos Aires was Argentina has been importing LNG on a
holding discussions with several companies on seasonal basis, buying fuel on the open market
an LNG supply deal for the coming winter. via tenders and using the volumes acquired in
In an interview with Reuters, Guzman this fashion to meet demand when it peaks dur-
acknowledged that Argentina, along with many ing the winter. It hopes eventually to become a
other countries that rely on imports to cover fuel net gas exporter but will not be in a position to
and energy demand, had been affected by the achieve this aim until it puts in place the infra-
supply concerns that have gripped world energy structure needed to develop its vast unconven-
markets since Russia’s invasion of Ukraine in late tional reserves, most of which are in the Vaca
February. He stressed, though, that officials in Muerta shale formation.
Buenos Aires expected to strike a deal that would Guzman also told Reuters on March 9 that
meet the country’s needs. Argentina’s government was committed to
“We have several options,” he said. “We will be reducing domestic energy subsidies, in line with
able to find the needed LNG.” the conditions for renegotiation of its interna-
He did not name any of the companies tional debts. He emphasised, though, that Bue-
involved in the negotiations or say exactly how nos Aires wanted to phase these subsidies out
much LNG Argentina was looking to buy this rather than eliminate them abruptly.
winter. Reuters noted, though, that the South “We are planning to reduce energy subsidies
American state was on track to purchase more gradually,” the news agency quoted him as say-
LNG in 2022 than it did last year. It also noted ing. “Obviously, the speed at which the goals are
that this year’s import bill was likely to be consid- achieved will depend on how the international
erably higher, given that global fuel and energy situation evolves.”™

TC Energy offers 10% Coastal GasLink

stake to indigenous groups

PIPELINES & CANADIAN pipeline operator TC Energy representing 16 of these communities, that had
TRANSPORT announced on March 9 that it had signed option confirmed their support for the option agree-
agreements to sell a 10% interest in the Coastal ments. The entities have been named the CGL
GasLink gas pipeline, which is being built to First Nations Limited Partnership and the FN
serve the LNG Canada export terminal, to indig- CGL Pipeline Limited Partnership.
enous communities. “This is what we’ve been striving for, to finally
The move is aimed at giving groups that tradi- have a say and make informed business decisions
tionally hold the land being used for the pipeline that will benefit our communities back home,”
Coastal GasLink will more ownership in the project. It comes amid the Cheslatta Carrier Nation’s Chief Corinna
serve the LNG Canada ongoing opposition to Coastal GasLink from Leween told the Canadian Press. “A lot of our
project, which is also environmental groups, as well as some of the Nations are still living in poverty, Third World
under construction. First Nations along the pipeline’s route in Brit- poverty, and not having access to capital or the
ish Columbia. Protests against the pipeline have infrastructure dollars that are needed to do the
occasionally become violent, with a recent inci- development of our communities. We are hop-
dent involving an attack on a work camp, which ing that this will help alleviate it.”
police said involved assailants with axes who Separately, Reuters quoted Leween as say-
threatened workers and damaged equipment. ing this was the first time many of the commu-
According to the police and TC Energy, millions nities involved had been included as owners
of dollars’ worth of damage was done during the in a major natural resource project on their
incident. territories.
The option agreements were made available to Financial terms of the agreements were not
all 20 First Nations holding existing agreements disclosed. The equity options are exercisable
with Coastal GasLink. TC Energy said the First once the pipeline enters commercial service,
Nations had established two entities, collectively which is targeted for 2023.™

Week 10 11•March•2022 www. NEWSBASE .com P9