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Argentina is looking to increase natural gas imports from Bolivia, adding 16-18 million cubic meters daily over the southern hemisphere during winter, reported Reuters, citing four undisclosed sources.

The move forms part of the South American country’s efforts to seek alternative gas supplies as liquefied natural gas (LNG) costs rise, following Russia’s invasion of Ukraine.

An Argentine government source said: “Argentina is negotiating with Bolivia [for] a very big gas import deal, as the country expects a colder winter than usual.”

Over the coming months, Argentina is expected to import up to 18 million cubic metres per day from Bolivia, which will be more than double recent levels.

In the winter months of 2021, Argentina’s average level of gas imports from Bolivia stood at approximately 14 million cubic metres per day.

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By GlobalData

A potential deal to raise gas imports from Bolivia, which would be for a period of three months, is subject to negotiations with Brazil, the second source with direct knowledge of the matter told the publication.

The third source said: “We have been working for months and continue to work on the issue, having been in contact with Bolivian peers for some time, even before the Ukrainian issue arose.”

In a separate development, the governments of Greece, Cyprus, and Israel have agreed to work on natural gas pipeline projects and boost their energy ties amid the Russia-Ukraine conflict, reported Reuters.

Israeli Foreign Minister Yair Lapid said that the three allies also plan to expand their cooperation to include more countries in the coming months.

Cyprus, Greece, and Israel have agreed to build the EastMed subsea pipeline to supply natural gas, from the eastern Mediterranean, to the European nations. The project has been in the planning stage for several years.

Another project under consideration by the allies include Euroasia Interconnector, the underwater power cable that will link their electricity grids.

Cyprus Foreign Minister Ioannis Kasoulides was cited by the news agency as saying: “We are proceeding with projects such as the Euroasia Interconnector and the EastMed pipeline […] and we are confident that, when materialised, they will have another practical and geostrategical value for the Eastern Mediterranean and the European Union.”