Weekly Report - 19 September 2006

ARGENTINA | Energy crisis looming. An embarrassed government has taken to dismissing a study it had been sitting upon for months, which predicts that Argentina is heading for a significant energy crisis. The study, conducted by Cammesa, the state agency administering the country's electricity grid, predicts an 'extremely difficult situation' in the summer months (December-March) in which, save the incorporation of new supply sources, the country will progressively enter 'a crisis of insufficiency of electricity generation', and that, in order to ensure domestic supply, the government will have to reduce exports of gas to Chile in 2007.

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