Argentina, home to the world's second-largest shale gas deposit, cannot help gas-starved Europe, which is scrambling to obtain non-Russian natural gas after Russia's invasion of Ukraine.
Argentina has failed to advance pipeline projects to take the gas out of Vaca Muerta to its neighbors first and to the global LNG market next.
Thus, the country holding one of the world's single biggest shale gas deposits can't do anything currently to alleviate the global natural gas crunch in a gas-starved market, in which Europe is outbidding Asia for LNG supply.
Despite plans from all presidential administrations of the past half-decade, authorities have just recently opened the tender for a new major gas pipeline, named Néstor Kirchner after the former president, to connect the Vaca Muerta shale gas play with a port town north of Buenos Aires.
For years, Argentina has been betting big on boosting oil and gas production at its largest shale play, Vaca Muerta in the Neuquen province.
Had Argentina made those advances, it could have helped in the current energy crisis, and it could have helped itself with gas export revenues, considering that Europe is more or less ready to pay any price for additional LNG supply that would replace Russian pipeline gas.
In recent weeks, Argentinian authorities have made some progress in kick-starting efforts to boost Vaca Muerta's development and the construction of pipelines to make Argentina self-sufficient in gas supply and an exporter of LNG. Last week, Argentina announced.
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