Seven companies were reportedly competing to supply cargoes under the first LNG purchase tender launched by Argentina's state-run energy company, Enarsa to meet its Southern Hemisphere's 2025 winter needs.
TotalEnergies, BP, PetroChina, Glencore, Petrobras, Trafigura, and Vitol submitted offers by the 25th March deadline, in an event that was streamed live on Enarsa's YouTube channel.
Enarsa, the sole LNG importer into Argentina, sought six LNG cargoes amounting to 2.1 trill Btu for delivery to the Escobar terminal in Buenos Aires province.
The delivery dates for the tender were 15th to 25th April, 10th to 12th May, 21st May, 28th May, 2nd June , and 7th June
The contracts were expected to be awarded on a fixed basis tied to Henry Hub, Brent, and TTF gas hub prices, market sources had previously said.
In 2024, Enarsa imported 29 cargoes procured in five tenders, down from 44 the previous year, according to the company's website.
One additional cargo imported in May was purchased on the spot from Brazil's state-run Petrobras during a higher than expected peak demand period.
Enarsa is expected to import fewer cargoes this year than last, due to rising domestic natural gas production, but the company's projections will also depend on winter temperatures, a source told S&P Global.
The initial projection at the beginning of the year was to import between 20 and 25 cargoes, but by the end of February, the estimate was closer to 20 cargoes, the source said.
The prices Enarsa paid in the five tenders it issued last year averaged $9.991/MMBtu, $9.996/MMBtu, $12.101/MMBtu, $11.739/MMBtu, and $13.624/MMBtu, respectively, based on official information from Enarsa. The price paid for the spot cargo purchased from Petrobras last year was $12.800/MMBtu.
