Argentina plans to buy natural gas from Angola

22 May 2012

The Argentinean government plans to start buying natural gas from the Angola LNG company as soon as negotiations with Sonangol are finished, said Argentina’s ambassador to Angola cited by state newspaper Jornal de Angola.

Last Friday Spanish group Repsol, in a dispute with the Argentinean government because of the expropriation and nationalisation of the YPF company, cancelled its liquid natural gas contract with Argentina alleging that contract conditions were not being met by state company Enarsa (Energía Argentina, S.A.), specifically non-payment of the gas that has been supplied.

Ambassador Juan Agustin Caballero said that the Argentinean government intended to diversify and increase trade between Angola and Argentina, which currently stands at a surplus of US$230 million in Argentina’s favour mainly made up of agri-livestock and food products.

The diplomat, who was speaking on the sidelines of the Products and Technological Systems of Argentina Fair, said that opening up the US$100 million credit line announced by President Cristina Kirchner, would help promote cooperation between Angolan and Argentinean businesspeople. (macauhub)