The Minister of Economy, Martin Guzmanaffirmed this Thursday in Paris that “accelerating the development of the energy sector is a priority for the country”, and signed the Adhesion of Argentina to the International Energy Agency (IEA).
“We are pleased to join the IEA as an associate member. We hope to work jointly and in an articulated manner”, said Guzmán during his presentation at the panel on the clean energy transition.
The minister considered that “it is a good time for Argentina to become an associate member of the IEA”, because he stressed that “The acceleration of the development of the energy sector is a priority for the country, both for productive and macroeconomic reasons”.
He also stressed that “on a global level, Argentina can make an important contribution to the energy transition.”
In this regard, he indicated that this contribution can be made “first, through the production of renewable energy”, and pointed out that “the Northwest and Cuyo regions have the highest photovoltaic irradiation in the world.”
“We have a potential comparative advantage for wind energy in Patagonia”added Guzmán, who stressed that “gas is also a transition energy and we have the second largest shale reserve in the world, Vaca Muerta”, in the province of Neuquén.
In that sense, he pointed out that “the production of natural gas is increasing and our goal is to be able to produce LNG within a few years”.
“We are also expanding the production of transition minerals,” stressed the head of the Palacio de Hacienda.
The minister affirmed that “the energy transition is also a question of balance of payments”, and maintained that “in a world with carbon pricing, the adaptation of the energy sectors will be essential for macroeconomic and financial stability in the coming decades”.
Delighted to meet with Minister @Martin_M_Guzman to welcome Argentina – a G20 member & important part of the Latin America energy sector – into the @IEA Family as an Association country
We discussed key IEA-?? areas of cooperation such as data, hydrogen, critical minerals & more pic.twitter.com/QhyrM3cLlK
— Fatih Birol (@fbirol) March 24, 2022
For his part, the executive director of the Association, fatih birolhighlighted Argentina’s entry into the IEA, and assured that the country is “an important part of the energy sector in Latin America.”
“Delighted to meet with Minister Martín Guzmán to welcome Argentina, a member of the G20 and an important part of the energy sector in Latin America, to the IEA family as a country of the Association”, Birol underlined on his Twitter social network account, after signing the country’s admission to this body.
The executive indicated that with Guzmán they discussed “key areas of cooperation between the IEA and Argentina, such as data, hydrogen, critical minerals and more.”
Coordinated actions
The IEA ministerial meeting, which concluded this Thursday in the French capital, brought together the highest authorities on the matter from the leading countries, and had as its objective coordinate actions in the context of the global energy crisis and Russia’s invasion of Ukraine.
Since the beginning of the crisis, the IEA and its members have expressed their solidarity with Ukraine, responding with clear actions in response to the shocks of the energy market.
The two-day meeting addressed today’s pressing energy security challenges, including the importance of accelerating the clean energy transition as a key part of the solution.
The ministerial meeting was chaired by US Secretary of Energy Jennifer Granholm, with three vice-chairs: Angus Taylor, Australian Energy Minister; Tinne Van der Straeten, Minister of Energy of Belgium; and Dan Jørgensen, from Denmark.
The main representatives of industry, finance and civil society also participated in the event.
