Buenos Aires, April 5 (NA) – The former governor of Neuquén, Jorge Sapag, stated that Vaca Muerta “guarantees the energy security” of Argentina in the face of the global energy crisis, highlighting its role as an economic stabilizer and its consolidation as a state policy.
In an interview with the program “No Vale Arrugar” on Splendid 990, Sapag confirmed that Vaca Muerta is not only a source of resources but also a “beacon” amid a global energy crisis that has forced powers to return to conventional and nuclear energy sources due to the blockade of the Strait of Hormuz.
In this regard, he noted that “the blockade of the Strait of Hormuz generates an energy crisis. There are countries that are already working on various aspects of energy generation, such as coal or nuclear energy.”
In response, he highlighted that Vaca Muerta is positioning itself as a “shock absorber” for Argentina and the region, currently providing 70% of the gas and oil the country produces.
Highlighting the production capacity of the field, he indicated that “it is what allows us to solve the so-called triple energy dilemma, which is to have secure, affordable energy at reasonable prices, and also with environmental care.”
The former leader recalled that the development of non-conventional resources began as a provincial strategy to attract strategic resources, but over time “it became a state strategy adopted by the different national governments.”
In this line, he affirmed that “Vaca Muerta seems to be a lighthouse that illuminates the path and direction to reach a destination port,” emphasizing that today all political leaders are “calibrating” the magnitude of this wealth to put it at its maximum potential.
In this sense, he celebrated, as reported by the Argentine News Agency, that the current consensus is far from the conflicts of the past: “It is a win-win from any angle; no political leader from any party could oppose it, as happened to us in 2013.”
In this context, Sapag highlighted the impact on the macroeconomy by stating that “it helps the balance of payments, to have foreign exchange and save it because if we had to import gas and oil, the Central Bank's reserves would not be enough to do so,” calculating that “we would have to dispose of no less than US$20,000 million.”
With the current pace of record monthly production, Sapag projects a trade balance where the sector will contribute some US$30,000 million net to the country by 2030/2031.
Referring to the expropriation of YPF, Sapag recalled that at the time he had expressed to then-President Cristina Kirchner his doubts about the nationalization of the flagship oil company.
“I manifested to her that the expropriation of YPF was going to delay investments. We believed there were other ways out and other solutions, but that path was chosen,” he recalled, although he highlighted that today the development is being achieved under parameters of social, environmental, and economic sustainability.
