LNG 2024: Latin America and Caribbean Edition

The Latin America and Caribbean (LAC) region is planning an estimated US$123.6 billion in new LNG infrastructure, primarily concentrated in Mexico, Argentina, and Brazil. Mexico has the world's third-largest planned LNG export buildout at 73.6 mtpa, largely intended to export U.S. gas from the Permian Basin. Argentina is proposing the 30 mtpa Argentina GNL Terminal to export gas from the Vaca Muerta shale basin, a project described as a "carbon bomb." Brazil is pursuing the world's fourth-largest LNG import expansion at 36.5 mtpa to reduce reliance on Bolivian gas and mitigate hydropower instability during droughts. These developments risk creating stranded assets and locking the region into gas dependence, contradicting IEA recommendations that the LNG trade peak this decade to limit warming to 1.5“. The report argues that the region's abundant renewable resources offer a more sustainable alternative to fossil fuel volatility.

• Global LNG terminal development continues to grow despite climate warnings, with an estimated US$1.1 trillion of new terminals in development as of 2024, including 1,048.2 mtpa of export capacity and 672.7 mtpa of import capacity.
• Mexico possesses the third-largest planned LNG export buildout globally, totaling 73.6 mtpa, though projects face significant permitting, financing, and legal barriers. The Saguaro Energía LNG Terminal is the most ambitious proposal, with a capacity of 15–30 mtpa.
• Argentina is planning the Argentina GNL Terminal, a US$30 billion project with a capacity of up to 30 mtpa. This project would export gas from the Vaca Muerta shale basin, which environmentalists describe as a "carbon bomb" that could consume 11% of the global carbon budget for 1.5“ warming.
• Brazil is implementing the world's fourth-largest expansion of LNG import capacity, totaling 36.5 mtpa, to address declining gas imports from Bolivia and unreliable hydropower generation during droughts.
• New LNG terminals in the LAC region are linked to broader gas infrastructure expansion, including 2,652 km of new gas transmission pipelines and 19.3 GW of new gas-fired power capacity.
• The expansion of LNG infrastructure in the LAC region risks creating stranded assets and increasing economic vulnerability to global gas market volatility, as seen during the 2022 energy shock where gas prices rose 40% in Argentina, Brazil, and Uruguay.

APA

Clark, R. R. G. (2024). LNG 2024: Latin America and Caribbean Edition. Global Energy Monitor. https://globalenergymonitor.org/research/lng-2024-latin-america-and-caribbean-edition

Chicago

Clark, Robert Rozansky, Gregor. LNG 2024: Latin America and Caribbean Edition. Global Energy Monitor, 2024. https://globalenergymonitor.org/research/lng-2024-latin-america-and-caribbean-edition.

Wikipedia

{{cite report |last1=Clark |first1=Robert Rozansky, Gregor |title=LNG 2024: Latin America and Caribbean Edition |publisher=Global Energy Monitor |date=29 October 2024 |url=https://globalenergymonitor.org/research/lng-2024-latin-america-and-caribbean-edition |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{clark2024lng, author = {Clark, Robert Rozansky, Gregor}, title = {{LNG 2024: Latin America and Caribbean Edition}}, institution = {Global Energy Monitor}, year = {2024}, month = oct, url = {https://globalenergymonitor.org/research/lng-2024-latin-america-and-caribbean-edition}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }