HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 21.Jan.2025) — Argentina reported a commercial energy balance surplus of $5.668bn in 2024, the highest such surplus in 18 years, according to the country’s Energy Secretariat.
In 2024, Argentina’s energy exports were $9.677bn, while its energy imports were $4.009bn, the Energy Secretariat announced 21 Jan. 2025 in a post on social media.
In recent years, Argentina has struggled with political, financial and economic uncertainties.
However, all that has seemingly changed with the arrival of Javier Milei. 1 year into his presidency he has been able to assist his country obtain a certain degree of economic stabilization owing to his initiatives to achieve fiscal surplus and zero monetary issuance, with the aim of pulverizing inflation.
Milei’s ability to remain on the front foot will be tested this year.
RELATED: The Milei Way: ¡Viva la libertad, carajo!, RIGI, Vaca Muerta and Argentine LNG Exports
Vaca Muerta anchors energy sector growth
The success seen in Argentina’s energy sector is primarily related to the prolific Vaca Muerta oil and gas shale play. There, rising provincial production is contributing to higher overall Argentina production and exports.
The resource base in the Vaca Muerta is sufficient to anchor Argentina’s efforts to further boost oil and gas exports. Higher projection in the future, coupled with the buildout of necessary pipelines, holds potential to assist Argentina join the league of liquefied natural gas (LNG) exporting countries.
Key to this is a new Incentive Regime for Large Investments (RIGI by its Spanish acronym). RIGI offers energy sector investors an ability to protect their projects and investments from future policy changes, according to the Energy Secretariat.
____________________
By Pietro D. Pitts reporting from Houston. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.