Russia’s Gazprom to participate in joint field development in Argentina

MOSCOW, April 23. /TASS/. Russia’s gas giant Gazprom may participate in the joint development of natural gas fields in Argentina, President Vladimir Putin said after holding talks with his Argentinian counterpart Cristina Fernandez de Kirchner Thursday. "Gazprom is involved in preparation of a general scheme of Argentina’s gas sector development and considers the possibility of joint hydrocarbon field development in Argentina," President said. As TASS reported earlier, last autumn Gazprom and Argentinian representatives discussed the prospects of implementing joint gas projects. The issue then was about joint gas-field exploration and development on the territory of Argentina. The two sides also discussed the issues regarding Gazprom’s LNG supplies to the country. Russia’s gas and oil majors Gazprom, Rosneft and Lukoil considered the possibility of joining Argentina’s project of developing Vaca Muerta, the deposit of unconventional hydrocarbons discovered in 2010 in Neuquen province by Repsol-YPF and considered as the world’s biggest shale field. Argentina's proven natural gas and oil reserves average 300 billion cubic meters and 300 million tonnes accordingly. In 2013, Argentina produced nearly 35.5 billion cubic meters of natural gas and 30.5 million tonnes of oil and consumed 48 billion cubic meters and 29.4 million tonnes accordingly. In 2013, Gazprom Marketing & Trading won an international tender for the supply of 15 LNG cargoes with a total volume of one million tonnes from Gazprom Group's portfolio to Argentina between 2014 and 2015. Read more