Forecast: Total Primary Energy Supply in Argentina

The Total Primary Energy Supply (TPES) in Argentina showed varying trends over the past decade. From 2013 to 2015, TPES increased consistently, peaking then at 82.76 million tonnes of oil equivalent in 2015. Minor fluctuations followed until a notable decline occurred in 2018, dropping by approximately 3%. The downward trend continued until the significant dip witnessed in 2020, reaching the lowest point of 73.97 million tonnes. Despite the challenges, the TPES began showing signs of recovery from 2021, with moderate year-on-year increases.

By 2023, the TPES stood at 75.91 million tonnes, reflecting a modest recovery trajectory. The variation over the previous two years (2022 and 2023) registered increases of 0.87% and 0.85%, respectively. The Compound Annual Growth Rate (CAGR) for the past five years (2018-2023) remains at a negative -1.04%, indicating an overall decline over this period despite recent improvements.

Looking ahead, the forecast suggests a gradual upward trend with a forecasted 5-year CAGR of 0.64%, projecting steady growth up to 2028. The expected annual growth rate over the next five years is estimated at 3.23%, suggesting persistent recovery and stabilization in Argentina’s primary energy supply.

Future trends to watch for include the impact of policy changes favoring renewable energy sources, technological advancements in energy efficiency, and potential fluctuations in global energy markets. External factors such as economic conditions and environmental regulations will also be critical in shaping Argentina's TPES trajectory.