Last chance saloon: Brazil, Argentina seek closer gas ties, investment risks linger

摘要

At an oil and gas event in Buenos Aires last December, Argentina’s energy secretary Flavia Royon announced what seemed like a breakthrough: Brazil’s state-owned development bank, BNDES, and the Development Bank of Latin America (CAF) had agreed to finance the construction of the remaining phase of a key gas pipeline from the Vaca Muerta shale play. The banks would provide loans of USD 689 million and USD 540 million respectively to build the second section of the President Nestor Kirchner pipeline.