Import

Home>Topics>Import
Refine Results
  1. All
  2. Articles
  3. Online Articles
  4. Magazine Articles
  5. Videos
  1. Argentina seeking increased natural gas production from shale resources to reduce imports

    Source: U.S. Energy Information Administration, based on Cedigaz   Despite its estimated 802 trillion cubic feet (Tcf) of unproved, technically recoverable shale gas resources, Argentina’s dry natural gas production declined each year from 2006 to 2014, and the country has shifted from a net exporter of natural gas to a net importer. In 2015, natural gas production increased for the first time since 2006, as ongoing efforts to increase production from key shale gas areas in Argentina aimed to reduce its imports of natural gas. Once one of the largest natural gas exporters in South America, Argentina was a net importer of natural gas by 2008. Imports, which accounted for 23% of Argentina’s natural gas consumption in 2015, came by pipeline from countries such as Bolivia and, to a lesser extent, as liquefied natural gas (LNG) from sources such as Trinidad and Tobago. The Argentinian government hopes to stop importing LNG by 2022. Argentina is the third country in the world, after the United States and Canada, to commercially develop tight oil and shale gas. Argentina’s Vaca Muerta formation within the Neuquen Basin has an estimated 308 Tcf of technically recoverable shale gas resources. Vaca Muerta’s geologic properties have been compared to the Eagle Ford play near the Gulf of Mexico in Texas in terms of its depth, thickness, pressure, and mineral composition. Source: U.S. Energy Information Administration and Advanced Resources International, Inc., World Shale Gas and Shale Oil Resource Assessment Note: Click to enlarge .   More than 588 vertical and horizontal shale wells have been drilled and completed in the Vaca Muerta shale play since 2010. According to the Argentine Ministry of Energy and Mines, shale gas production reached 64.6 billion cubic feet (Bcf) at the end of 2015. Argentina's national oil company, Yacimientos Petroleiferos Fiscales (YPF), the most active operator in the Vaca Muerta shale play, has initiated joint venture pilot project agreements with partners such as Chevron , Dow Chemical, and Petronas to further develop the play. Although Vaca Muerta may have similar geologic properties to the Eagle Ford play in the United States, the production history of the Eagle Ford may be difficult to replicate in Argentina. From 2010 to 2013, more than 10,000 wells were drilled in the Eagle Ford, and average inital production per well nearly tripled over that period. However, since 2014, the decline in world oil prices has resulted in lower upstream capital expenditures as operators prioritize their spending. While drilling costs in Argentina have declined, they are still higher than YPF’s target costs. The average drilling and completion cost of a horizontal well in Vaca Muerta was estimated to be $11.2 million as of 2015, compared to $6.5 million to $7.8 million in the Eagle Ford. Ultimately, the economic competitiveness of Argentina's indigenous shale gas resources will depend on the costs of domestic drilling and completion and the productivity of newly drilled wells. Although Argentina has an established energy industry, the current oil and gas sector is relatively small. The highest active rig count in Argentina in recent years was 110 for its nonshale oil and gas production, compared to more than 230 dedicated shale rigs in the Eagle Ford alone in 2013. Argentina has relatively high labor and imported equipment costs, shortages of specialized shale rigs, and limited proppant capacity—factors likely to hinder efforts to quickly increase production. Principal contributors: Jesse Esparza, Faouzi Aloulou, Andrew Estes

    Online Articles

    Online Articles

    Sat, 11 Feb 2017

  2. Coal News: Thai gov't panel approves coal plant in popular tourist area

    A government committee has approved construction of an 800-megawatt coal power plant near pristine beaches on the Andaman Sea, Thailand's prime minister said Friday.

    Online Articles

    Online Articles

    Sat, 18 Feb 2017

  3. Coal News: Ukraine's president vows to resume coal supply from east

    Ukraine's president on Thursday pledged to resume coal supplies from separatist-controlled parts of the country after it was blocked by volunteer battalions, threatening to disrupt the country's power supply.

    Online Articles

    Online Articles

    Fri, 17 Feb 2017

  4. Tokyo opts for large-scale coal power roll-out

    The Japanese government is set to build up to 45 new high energy, low emission (HELE) coal-fired power plants in a bid to diversify its power supply.

    Online Articles

    Online Articles

    Tue, 31 Jan 2017

  1. Making the transition to solar power with energy storage

    Online Articles

    Online Articles

    Mon, 30 Jan 2017

  2. Work to resume at 60-MW Upper Trishuli 3A hydropower plant in Nepal

    Work is expected to resume in the near future at the headworks for the 60-MW Upper Trishuli 3A hydropower project located on the Trishuli River in the Nuwakot and Rasuwa districts of Bagmati zone in central Nepal, according to published reports.  

    Online Articles

    Online Articles

    Mon, 30 Jan 2017

  3. Solar Power: OST captures Jamaican sunshine

    OST Energy NA has been appointed as Owner’s Engineer by Eight Rivers Energy Company for Jamaica’s largest solar power project to date.

    Online Articles

    Online Articles

    Fri, 3 Feb 2017

  4. APICORP: MENA countries investing $10.3 billion to import LNG

    Countries in the Middle East and North Africa (MENA) account for a rapidly rising share of global LNG demand and will invest about $10.3 billion in the “medium term” to meet import needs, says Arab Petroleum Investment Corp. (APICORP).

    Online Articles

    Online Articles

    Wed, 3 Aug 2016

  5. AEO2015: US on track to eliminate net energy imports by 2030

    Continued growth in oil and natural gas production, growth in the use of renewables, and the application of demand-side efficiencies show the potential to eliminate net US energy imports in the 2020 to 2030 timeframe, according to projections in the Annual Energy Outlook 2015 (AEO2015), released by ...

    Online Articles

    Online Articles

    Wed, 15 Apr 2015

  6. EIA launches new tool for crude oil import analysis

    The US Energy Information Administration has released a new US Crude Oil Import Tracking Tool that allows policymakers, analysts, and the public to more easily track trends in crude oil imports .

    Online Articles

    Online Articles

    Thu, 20 Nov 2014

  7. BP Energy Outlook: Global energy demand to grow 30% to 2035

    According to the 2017 edition of BP’s Energy Outlook, global energy demand will increase by around 30% to 2035, an average growth of 1.3%/year, driven by increasing prosperity in developing countries, partially offset by rapid gains in energy efficiency.

    Online Articles

    Online Articles

    Wed, 25 Jan 2017

  8. BP Energy Outlook: an energy transition is underway

    According to the 2017 edition of the BP Energy Outlook, global demand for energy is expected to increase by around 30% between 2015 and 2035, an average growth of 1.3% per year.

    Online Articles

    Online Articles

    Thu, 26 Jan 2017

Get More Results