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Argentina finds natural gas to cover its needs for 50 years
Dec 7, 2010, 18:35 GMT
Buenos Aires - A shale gas field was found in the southern Argentine province of Neuquen that is expected to produce natural gas to cover the country's needs for 50 years, Argentine President Cristina Fernandez de Kirchner said Tuesday.
'We are very happy because this is going to keep up the country's growth, an economic model based on growth, accumulation, wealth generation and income distribution,' Fernandez de Kirchner said in Buenos Aires.
The field was found in the Patagonian town of Loma de la Lata, in Neuquen, during explorations carried out by the Spanish-Argentine firm Repsol-YPF. The find multiplies by three the company's natural gas reserves in Argentina, according to government estimates.
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