How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily brief -Monday 23 January 2017
- When Expat Eyes Are Smiling
- 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
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
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Argentina's Planning Ministry said Repsol's cargoes had already been replaced by other providers "because we knew they would fail to comply, in the same way they did during all the years they controlled YPF."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
- Rising oil prices threaten Spain’s economic growth model
- Spanish bank count 3 billion euro cost of mortgage refunds
- Almost 500 people arrested in Spain for animal abuse in 2016: new report
- Spain's Sabadell sees up to 490-mln-euro hit from mortgage floor contacts
- Spanish hotel boss warns sector is feeling first effects of Brexit
- Two weeks into 2017, Mediterranean migrant deaths rise on last year
- Spanish court jails 4 ex-bankers for misappropriation
- Brussels sees Spain's 2017 budget broadly in line with EU rules
- Government, opposition reach deal on “floor clause” refunds for mortgage holders
- EU tells Spain to brace for cuts due to likely 2017 deficit target miss
- 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