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Argentina’s energy woes deepen despite discoveries

Despite the huge discoveries, don’t expect unconventional oil and gas to drag Argentina out of its energy-import problem just yet

The emergence of Argentina’s potentially vast unconventional oil and gas resources could not have come at a better time for the country. Although historically a significant regional oil and gas producer, output from Argentina’s conventional resources is in sharp decline, while strong economic growth and artificially low energy prices are driving consumption higher. Once a significant hydrocarbons exporter, Argentina faces a future as a net importer of oil and gas in just a few years. The transformation has already happened in the natural gas market, which has still not recovered from the energy crisis of 2004. In that year, a severe domestic gas shortage forced the country to cut its export

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