Repsol is warning of legal action after officially cancelling the remaining nine LNG cargoes slated for delivery to Argentina this year.
The first 2012 shipment to state-controlled Enarsa was shelved following Buenos Aires’ expropriation of the Spanish company’s controlling stake in YPF.
Repsol has now ripped up the whole deal citing contract breaches, including an alleged failure to pay for the scheduled May delivery.
“Enarsa has repeatedly failed to meet the terms of the agreement, including a failure to pay, efforts to reschedule cargoes, also attempts at changing the price that it was paying for the LNG,” said Repsol spokesman Kristian Rix.
Enarsa in turn has accused the Spanish outfit of contract breaches for failing to deliver without justification.
The administration of Argentine President Cristina...
