Regional Energy Integration: The Growing Role of LNG in Latin America
A conversation with:
Director, National Transport and Measurement of Hydrocarbons
Ministry of Energy and Mining, Argentina
Jose Maria Castro
Sociedad Portuaria El Cayao (SPEC)
Superintendent, Natural Gas and Biofuels Department
Empresa de Pesquisa Energética
Acting Deputy Assistant Secretary, Bureau of Energy Resources
US Department of State
Introduced and Moderated by:
Chairman, Energy Advisory Group and Nonresident Senior Fellow, Adrienne Arsht Latin America Center
Natural gas is emerging as a critical source of energy in the Americas and around the world, and Latin America is rapidly becoming a key destination for US LNG exports. With natural gas accounting for nearly 25 percent of global energy consumption, with liquefied natural gas (LNG) accounting for 10 percent of gas consumption, the Americas are driving the market and contributing to the increasing role of natural gas in the global energy mix. Latin America is currently the number one destination for US LNG exports, accounting for over 40 percent. Many governments in the region see natural gas as a low-carbon energy option that can support their increasing turn towards renewables. Additionally, lower global LNG prices, the impacts of drought conditions on the region’s hydropower sector, and a departure from industries such as coal and diesel have driven the demand for LNG and calls into question whether this is an opportunity for Latin America to become more integrated.
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This event is open to press and on the record.