How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
... Telefonica are NOT the only service provider of Telephone Lines, Internet Access or Mobile Phones?
Tumbit recommends Telitec Communications. Find out how Telitec Communications can help you here!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily Brief - Friday 11 July 2014
- Things that have annoyed me this week
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Pensioners 'misled' by Co-op Bank
- UK Inflation no problem for Governor Carney
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
Spain's Repsol cancels LNG cargoes to Argentina
Spain's Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the energy company's majority stake in YPF, a document obtained by Reuters on Friday showed.
Argentina relies on LNG imports to meet between 20 - 30% of domestic natural gas consumption. Repsol was to supply 10 cargoes to Argentina this year out of 80 from all suppliers to help meet peak demand from June to September.
Argentina's Planning Ministry said Repsol's cargoes had already been replaced by other providers "because we knew they would fail to comply, in the same way they did during all the years they controlled YPF."
Repsol said in a letter to Argentine state energy company Enarsa, dated May 17, that Enarsa had breached the LNG contract by seeking to renegotiate the price of shipments and modify the timetable for deliveries.
Earlier this month, an energy sector source said the Spanish company might halt its LNG sales.
Repsol said Enarsa's conduct and the Argentine government's "unlawful and discriminatory" takeover of YPF showed the country had "no intention of complying with, or continuing to be bound by, the agreement", according to the letter.
No one was available at Enarsa to comment.
Argentina has had difficulties securing LNG supplies due to tough price negotiations.
Latest News & Stories
- Spain's Prado loses 885 peices of art
- BBVA expects profit boost from Catalunya Banc purchase
- Spain sets rules for dealing with unaccompanied foreign children
- Catalan Separatists Say Debt Investors Can Help Campaign
- Travel authorities call for responsible tourism in Spain after sex scandal
- Spain's AENA appoints banks for IPO
- Spain sets another record for foreign tourism
- Gibraltar says data proves Spain border queues are deliberate
- BBVA to buy Spain's nationalized Catalunya Banc
- Spain set to double rail accident compensation
- The Legal and Judical System in Spain
- Where to get Legal & Professional Advice in Spain
- The Police in Spain – Who they are and their Responsibilities