The Minister of Economy, Sergio Massa, defended the development of natural gas as a factor in the energy transition, in a counterpoint with European representatives during the Assembly of the Development Bank of América Larina-CAF that was held this Tuesday in Santiago, Chile.
Argentina promotes the development of the abundant gas resources of the unconventional formation of Vaca Muerta, in a global context in which gas is recognized as an element of energy transition from hydrocarbons to renewable sources.
“On the path of energy transition, the million dollar question is: when developed countries ask us to stop gas or liquid gas development projects, are they going to stop buying liquid gas? Are they going to close the gasification ports of their own countries?” Massa said at the session in which CAF approved financing for US$ 840 million to advance the construction of the Néstor Kirchner Gas Pipeline.
“My country is one of the most complicated financial debtors globally, but it is one of the main environmental creditors and that equation at some point, somewhere we are going to have to put it on the table”Sergio Massa
In a counterpoint with European representatives on the CAF board, Massa lashed out at those countries that “ask us to make a transition effort that their own economies are not doing while we see Europe reopening coal plants.”
“My country is one of the most complicated financial debtors globally, but it is one of the main environmental creditors and that equation at some point, somewhere we are going to have to put it on the table,” the minister stressed.
He said that the discussion of this issue “in any case will have to be given with a global perspective.”
In closing this participation in the meeting, Massa stated: “It is always unfair that our countries that are environmental creditors have to make an additional effort for those that are environmental debtors.”
Two weeks ago, the head of the Palacio de Hacienda stated on the occasion of a G20 meeting held in India that the biodiversity of developing countries such as Argentina makes them “unrecognized creditors vis-à-vis financial creditors”, and He called for redoubling efforts in sustainable financing in favor of the energy transition.
In the Indian city of Bengaluru, at the official session on International Financial Architecture, Sustainable Finance and Infrastructure, Massa stated that “the natural heritage and biodiversity of our countries serve humanity, which makes us unrecognized creditors against the financial creditors”.
“Sustainable financing presents challenges especially for developing countries, which in many cases do not have access to grants and climate financing on favorable terms to invest in mitigation, adaptation and energy transition,” he added on that occasion.
