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Argentina energy report

Argentina energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
43 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive Argentina energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • Argentina aims to increase the share of wind and solar to 20% of electricity production in 2025 and reduce GHG emissions by 21% in 2030 compared to its 2007 emission peak.
  • According to its Long-Term Strategy, the country aims to reach net zero emissions by 2050.
  • Four companies represent 1/3 of the installed power capacity.
  • YPF (51% public) is the largest producer of oil (60% in 2023).
  • The share of natural gas in the power mix varies greatly with the level of hydropower (47% in 2023).
  • The share of wind has increased by 10 points since 2010.
  • The country holds South America's 3rd largest gas reserves.
  • Gasoline and diesel prices decreased by around 5% in 2023.
  • Household electricity prices are around 10 times lower than in Brazil and Chile.
  • Gas dominates the energy mix (46% in 2023), followed by oil (39%).
  • The residential and industrial sectors are the largest electricity consumers (39% and 34%, respectively).
  • The Vaca Muerta shale oil and gas field is the main contributor to the hydrocarbon production expansion.
  • Argentina is pushing China to finance its nuclear development, including the 1.2 GW Atucha III.
2nd
natural gas producer in South America after Mexico
10%
annual increase in oil production since 2021
41%
carbon-free sources in power mix

  • Institutions & Energy Policy

    The Energy Secretariat ("Secretaria de Energía de la Naciόn"), under the Ministry of Economy, is in charge of developing the energy policy.

    The deregulation and privatisation of the oil, gas and electricity sectors took place in the 90s in order to separate the production, transport, and distribution activities.

  • Energy Supply

    Resources:

    Argentina is relatively well off in terms of energy resources. Gas and oil reserves amount to around 400 bcm and 340 Mt, respectively (end of 2023). The country ranks third in South America in terms of gas reserves, after Venezuela and Brazil, and fifth in terms of oil reserves. The country's hydrocarbon reserves are decreasing because of the lack of investments by energy companies.

  • Energy Prices

    Oil:

    Oil product prices were liberalised in 1991.

    The price of premium unleaded gasoline was US$0.96/l in 2023. It increased by 20% between 2020 and 2022, reaching US$1.04/l in 2022. This price is close to the average for South America, but 27% lower than in Brazil and 66% lower than in Chile.

  • Energy Consumption

    Per capita consumption in Argentina (1.7 toe/cap in 2023) is the third highest in South America after Chile and Guyana. These high levels are mainly due to space heating needs. Electricity demand per capita is around 2 700 kWh/cap (2023).

  • Issues & Prospects

    Oil:

    The Government intends to promote oil exploration and production to ensure the stability or growth of reserves, which could be achieved through the development of the Vaca Muerta formation in the Neuquen Basin.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2023, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2023, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2023, %)
  • GRAPH 9: Final consumption market share by sector (2023, %)
  • GRAPH 10: Oil consumption (Mt)
  • GRAPH 11: Oil consumption breakdown by sector (2023, %)
  • GRAPH 12: Electricity consumption (TWh)
  • GRAPH 13: Electricity consumption breakdown by sector (2023,%)
  • GRAPH 14: Natural gas consumption (bcm)
  • GRAPH 15: Gas consumption breakdown by sector (2023, %)
  • GRAPH 16: Coal consumption (Mt)
  • GRAPH 17: Coal consumption breakdown by sector (2023, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Argentina energy market data since 1990 and up to is included in the Excel file accompanying the Argentina country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Argentina Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Argentina energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Argentina country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.