Argentina authorizes natural gas exports to Uruguay

BUENOS AIRES: Argentina's government authorized the export of up to 350,000 cubic meters (12.4 million cubic feet) of natural gas per day to neighboring Uruguay for the next two years, its official gazette said on Wednesday.

Argentina is seeking to ramp up production by exploiting one of the world's largest shale reserves, Vaca Muerta, but it remains a net importer of gas, primarily from Bolivia.

Argentina must import equivalent amounts of gas to what it is exporting to Uruguay, the gazette said.

A total volume of 255.5 million cubic meters (9 billion cubic feet) is allowed for export to Uruguay. The measure will no longer apply if Uruguay does not import gas within 180 days.