Fuel contribution: Russia is ready to offer its LNG to Argentina

Russia is ready to resume supplies of liquefied natural gas (LNG) to Argentina, despite Buenos Aires' policy of self-sufficiency and close rapprochement with Washington, Russian Ambassador to the republic Dmitry Feoktistov told Izvestia. A bilateral oil and gas forum will be held in the Latin American republic in the fall of 2026. At the same time, the countries can develop cooperation in other areas — there are plans to expand exports in the field of energy engineering and pharmaceuticals.

Gas supplies to Argentina

Russia may offer Argentina joint gas projects, including LNG supplies. Our companies are open to this.

"Despite the fact that Argentina intends to export liquefied natural gas produced at national facilities itself in the near future, it cannot be ruled out that domestic raw materials may also be in demand on the local market if Buenos Aires is interested," Dmitry Feoktistov, the Russian Ambassador to the republic, told Izvestia.

Representatives of Russian energy companies regularly visit Argentina to negotiate with partners on the implementation of projects in the fuel and energy sector. The Russian-Argentine oil and gas business forum, organized by Roscongress, is scheduled to take place this year. It will be held in Buenos Aires.

— The preliminary date is autumn 2026, — the Ministry of Industry and Trade of the Russian Federation clarified to Izvestia.

However, the path of Russian gas to the region remains thorny. Russia has already supplied LNG to the Latin American republic in 2018 and 2020. The last attempt in 2023 ended in a scandal: the Flex Artemis tanker with Yamal gas could not unload at the port due to the refusal of the state-owned company Enarsa to make a payment. The Argentine Embassy in Moscow explained to Izvestia that the risk of secondary sanctions played a role at that time.

— Although the gas originally originated from Russia, it was sold by the Swedish company Gunvor Group Ltd. and overloaded in France. Thus, the refusal concerned the cargo of the Gunvor company and had nothing to do with the legal status of Argentina in relation to Russia, its embassy in Moscow explained to Izvestia.

Sergio Massa, the then Minister of Economy, considered this operation to be beyond the scope of the contract between the companies. Eventually, the problem was solved by unloading the vessel in Spain.

The situation is changing now: Enarsa is undergoing privatization, and the right to purchase gas has been transferred to private companies. This opens a "window of opportunity" for Russian suppliers if they can negotiate directly with the business.

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Is Argentina capable of becoming a competitor to the United States

Vaca Muerta, one of the world's largest shale gas deposits, is located in Argentina. Buenos Aires has already started exporting to Brazil and plans to achieve full energy independence by 2027.

According to Igor Yushkov, an analyst at the National Energy Security Fund, Argentina can occupy a certain niche in the market if it actively creates LNG plants. However, Kirill Kononov, an analyst at BCS World Investments, believes that Argentina's chance to compete with the United States, the main supplier of LNG to the region, is low, primarily due to the difficult economic situation in the country.

In addition, Argentina and the United States can be called economic allies after Javier Miley and Donald Trump came to power, and the republic implements LNG projects with the participation of the United States, added Sergey Kaufman, an analyst at Finam. The United States will not allow a competitor to appear in Latin America.

Cooperation between Moscow and Buenos Aires is promising

Argentina is one of Russia's leading trading partners in Latin America, so cooperation is not limited to possible LNG supplies.

— Today, we are witnessing an increase in trade turnover from January to September 2025 by 1.8 times compared to the same period of the previous year. It is noteworthy that exports increased fourfold, including due to a multiple increase in sales of mineral fertilizers," the Russian ambassador added.

Metals and products made from them, fuel, oil and its distillation products, equipment, and vehicles also account for a significant share of domestic goods on the Argentine market. The expansion of the range of Russian supplies at the expense of the energy engineering and pharmaceutical industries is promising, Feoktistov added.

It is also possible to supply petroleum products to Argentina, where the Russian Federation has only sporadically exported diesel. The Latin American market has become very important for Moscow against the background of EU sectoral sanctions.

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The Russian Federation may propose a partnership for the construction of gas and oil pipelines and for the supply of pipes. Russia is one of the world leaders in this area, Igor Yushkov added.

It is also possible to expand cooperation in the field of mining. Russia is implementing 75 such projects in the republic at the early stages of development with a focus on various types of mineral raw materials, primarily lithium, the Embassy of Argentina noted. And there is serious competition for the country's market.

"Currently, more than 40 companies from different countries are showing interest in this industry, mainly from China, France, the USA, Canada, South Korea, Great Britain, Australia and, more recently, India," the diplomats added.

But foreign trade is inextricably linked to international politics. After Javier Miley became president of Argentina, the country is strongly oriented towards the United States. If Russia improves relations with the United States, it may have a positive impact on the dialogue between Moscow and Buenos Aires, especially given that the republic has not imposed any sanctions against the Russian Federation.