The advance of the war between Russia and Ukraine complicates the economic outlook in Argentina, since, in addition to commodities, oil prices gas shot up in the last few days.
After the sanctions of the United States to Russia, the price of the gas liquefied natural gas (LNG) reached values above USD 50 per million BTU, when the country paid USD 23 at the beginning of this year for the supply.
This situation generates great uncertainty, since with the volatility of prices in the gasthe nation would not have how to afford the importation, since it will require up to triple dollars to pay for them.
This will surely affect Argentine households during the winter, since imports cover 30% of demand during the cold seasonand the country has no way to supply the supply.
The situation is worsening given the current economic context, since the country does not have enough dollars, so the Minister of Economy, Martín Guzmán, is in the United States to meet with oil companies.
Argentina could pay up to 5,411 million dollars more for gas imports
Since liquefied natural gas is also used to supply gas to homes and thermal electricity generators in winter, the country needs to guarantee the supply.
Consequently, to avoid service cuts, it will have to pay more if it wants to import the same amount of LNG as last year.
Below this line, if prices in international markets remain above US$40 USD per MMBTU, the Government would need about 5,411 million dollars more than last year to cover the demand.
Even if the values do not rise as much and remain close to US$20 per MMBTU, the cost would increase by 1,520 million dollars, so, in any case, if the market does not stabilize, the country will spend more dollars this anus.
