President Macri presented the Plan Energético Argentino (press to download presentation) in Vaca Muerta, the vast Shale Gas & Oil field in Neuquen
The six basic points in the ambitious plan are:
1. Double the gas production in 5 years, reaching 260 MMm3/day, and exporting 100 MMm3/day
2.Double the oil production in 5 years, reaching a 1 MM barrels a day and exporting 500,000 barrels a day
3. Create 500 thousand new jobs associated with the development of Vaca Muerta.
4. Contribute to creating a trade balance surplus for Argentina, providing 15 B USD in 5 years,
5. Develop the renewable energy potential, reaching 20% share of the electricity demand by 2025.
6. Thanks to this great supply, promote very competitive prices for SME products, Industry and Transport.
The plan includes gas exports by pipeline (2019/2020) and LNG (2023).
Transport is one of the key issues for increasing domestic demand.