Argentina's YPF and Chile's Enap Sipetrol announced a joint project to expand the production of natural gas and crude from the offshore Magallanes Deposits, (PIAM), to the east of Magellan Strait Reserve. Representatives from Tierra del Fuego province and Magallanes Region, and from the two companies, attended the announcement ceremony. Read full article
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!
Now publish your performa on the contemplated investment.Jun 04th, 2016 - 01:50 pm - Link - Report abuse 0
What's the projected ROI?
While the argentos receive massive subsidies for gas and electricity, we forget that the chilenos do this as well. In Chile's Magallanes region, the natural gas prices are heavily subsidised, at nearly 80 percent of the market price, and so they receive the natural gas almost free when compared to production costs. The result is predictable waste: Residences and commercial buildings are constructed with little or no insulation and many people keep their offices and homes at poultry-incubation levels. The more that is wasted, the larger the deficit for the state energy agency, ENAP, which was about US$100 million in the red for just the year 2015. Another factor: Being employees of the state, Chile's ENAP workers are handsomely compensated.Jun 04th, 2016 - 03:48 pm - Link - Report abuse 0