Thursday, January 20, 2011

Argentina, Qatar To Consider Building Argentine Natural-Gas Terminal

BUENOS AIRES -(Dow Jones)- Argentina signed an agreement with Qatar on Tuesday to look into building a third liquefied natural-gas terminal in the South American country, the Argentine planning ministry said.

The terminal would facilitate the import of up to 20 million cubic meters LNG from Qatar each day, the ministry said in a press release.

The agreement came during Argentine President Cristina Fernandez's visit this week to Qatar, Kuwait and Turkey to boost investment and cooperation. On Tuesday, she announced the opening of a new Argentine embassy in Qatar.

Argentina is looking to expand its LNG port capacity to alleviate chronic natural-gas shortages. Every winter the government rations deliveries to hundreds of industrial companies as demand for gas outweighs its supply.

In September, Excelerate Energy, a Texas-based liquefied natural-gas marketer, said it would build Argentina's second LNG facility north of the capital Buenos Aires, allowing the import of an additional 500 million cubic feet of natural gas.

Read the rest of the report here.

Source: NASDAQ