What drove down natural gas production in Argentina?

We address the causes behind the drop in natural gas production in Argentina since 2004, starting from a basic supply model that depends on economic incentives, and adding control variables related to different potential explanations such as firm specific (or area specific) behavior and the absence...

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Autores principales: Barril, Diego, Navajas, Fernando Heberto
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 2011
Materias:
Ciencias Económicas
Natural gas
Production
Exhaustible resources
Argentina
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/169229
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-169229
record_format dspace
spelling I19-R120-10915-1692292024-08-29T04:07:50Z http://sedici.unlp.edu.ar/handle/10915/169229 What drove down natural gas production in Argentina? Barril, Diego Navajas, Fernando Heberto 2011-11 2011 2024-08-28T18:49:37Z en Ciencias Económicas Natural gas Production Exhaustible resources Argentina We address the causes behind the drop in natural gas production in Argentina since 2004, starting from a basic supply model that depends on economic incentives, and adding control variables related to different potential explanations such as firm specific (or area specific) behavior and the absence of contractual renegotiation of concessions extensions. Results from a panel of the change in natural gas production in all areas between 2004 and 2009 show that once a basic supply-past production (or reserve) relationship is modeled, other often mentioned effects become non-significant. Chiefly among them are firm specific effects and the role of renegotiations of concessions extensions. We find preliminary evidence that post 2007 renegotiations –which are associated with better price prospects- may have had an impact in correcting production decline in one leader firm. Other significant effects come from a negative impact of a change in the seasonality of production that in turn can be related to demand rationing and to price controls. Overall, the evidence suggests that the observed downcycle conforms to the prediction of a simple model of depressed economic incentives acting upon mature conventional natural gas fields and hindering investment in reserve additions or new technologies. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
Natural gas
Production
Exhaustible resources
Argentina
spellingShingle Ciencias Económicas
Natural gas
Production
Exhaustible resources
Argentina
Barril, Diego
Navajas, Fernando Heberto
What drove down natural gas production in Argentina?
topic_facet Ciencias Económicas
Natural gas
Production
Exhaustible resources
Argentina
description We address the causes behind the drop in natural gas production in Argentina since 2004, starting from a basic supply model that depends on economic incentives, and adding control variables related to different potential explanations such as firm specific (or area specific) behavior and the absence of contractual renegotiation of concessions extensions. Results from a panel of the change in natural gas production in all areas between 2004 and 2009 show that once a basic supply-past production (or reserve) relationship is modeled, other often mentioned effects become non-significant. Chiefly among them are firm specific effects and the role of renegotiations of concessions extensions. We find preliminary evidence that post 2007 renegotiations –which are associated with better price prospects- may have had an impact in correcting production decline in one leader firm. Other significant effects come from a negative impact of a change in the seasonality of production that in turn can be related to demand rationing and to price controls. Overall, the evidence suggests that the observed downcycle conforms to the prediction of a simple model of depressed economic incentives acting upon mature conventional natural gas fields and hindering investment in reserve additions or new technologies.
format Objeto de conferencia
Objeto de conferencia
author Barril, Diego
Navajas, Fernando Heberto
author_facet Barril, Diego
Navajas, Fernando Heberto
author_sort Barril, Diego
title What drove down natural gas production in Argentina?
title_short What drove down natural gas production in Argentina?
title_full What drove down natural gas production in Argentina?
title_fullStr What drove down natural gas production in Argentina?
title_full_unstemmed What drove down natural gas production in Argentina?
title_sort what drove down natural gas production in argentina?
publishDate 2011
url http://sedici.unlp.edu.ar/handle/10915/169229
work_keys_str_mv AT barrildiego whatdrovedownnaturalgasproductioninargentina
AT navajasfernandoheberto whatdrovedownnaturalgasproductioninargentina
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