Necessary Maturity – Editorial

We are living a time of great significance for the future of our country. In October, national elections will be held that will determine our governing authorities and who will pass the laws. The primary elections showed the fragility of the confidence that the markets and international organisms have placed in us. This is a consequence of the fluctuations in the application of policies that our political leaders have carried out throughout our history. They are precisely the ones who should reach the necessary maturity to set up and agree on national policies about transcendental aspects for the country that will last over time regardless of the ideologies and forms of government. In our sector of particular interest, in spite of all the economic difficulties, we have witnessed an important growth that makes us feel hopeful about a great development and has brought our country close to energy self- supply.
In Vaca Muerta, according to the Ministry of Energy of the province of Neuquén, 1,339 wells have been drilled up to now and the government of Neuquén expects that 1,500 oil wells will be drilled by the end of the year, tripling in this way this figure in just four years.
As regards the non-conventional, in the second quarter, YPF’s production reached the 82,400 oil barrels equivalent per day, an increase of 47.9 %. The company operated in the area with 19 drilling rigs and the incorporation of new technology for the wells completion has shown very good results. The company also announced that a preliminary agreement with the company Excelerate Energy was reached. According to this, a methane ship was hired to transport LNG produced in the floating unit TANGO FLNG located in Bahia Blanca to the global natural gas market.
After eleven years, gas exports to Chile have restarted. Argentina is already exporting liquefied natural gas to USA stations of mobile production to supply customers who are not connected to pipelines.
The implementation of Renovar Plan has been a success and there are more than 90 on-going projects. The goal set for 2025 was to have 20 % of energy generation matrix based on renewable energy.
The largest wind farm in the country was inaugurated in Santa Cruz, and in Jujuy the largest solar energy park in Latin America called Cauchari is being built.
Argentina is the fourth lithium producer country in the world and the one that produces it at the lowest cost. We have the second world lithium reserve together with Bolivia and Chile. It is called the star mineral due to its importance for energy storage. The interest of companies, proffesionals and investors was observed during the development of the VII International Lithium Seminar. The governor of Jujuy, Gerardo Morales, has announced the construction of a factory of Lithium batteries in one area of the Industrial Park of Pericó.
I could go on listing many advances developed in the energy sector, but it is vital for our political leadership to mature and to agree on the highest objectives of the nation, without fluctuations so that when facing a change of government, the confidence in the country will not collapse.