Argentina will give subsidies of a total of US$5.1 billion to shale gas drillers in an attempt to revive production in its Vaca Muerta shale play and attract as much as US$5 billion in investments, Energy Secretary Dario Martinez said this week. The four-year subsidy program will cost Argentina US$1.5 billion in 2021, but it will still be better than paying to import liquefied natural gas (LNG), even if LNG prices have dropped, Martinez said, as carried by Bloomberg . Shale drillers who bid in an auction in November can get a maximum of $3.70 per million British thermal units for three-year supply deals. Argentina unveiled a new plan for natural gas development last week to attract company investments that will revitalize gas production in the Vaca Muerta shale play and make Argentina independent from natural gas imports. The plan, presented in the Neuquén province home to Vaca Muerta, […]