Argentina’s potential for biodiesel grows

10 September 2008 00:08  [Source: ICIS news]

BUENOS AIRES (ICIS news)--Argentina may surpass Brazil in biodiesel exports in dollar value by 2009, an executive with Swiss broker company Starsupply Renewables said on Tuesday.

Argentina’s growing biodiesel exports prompted the company in January to open a branch in the company, Starsupply Renewables CEO Kevin McGeeney said during the Biofuels Americas Congress in Buenos Aires.

The company is analysing the opportunities for biofuels in Argentina. McGeeney said.

“With the increasing demand of the European Union for this product, Argentina will become a key player in this business,” he said.

“The demand for energy in the EU will surely increase in the future,” McGeeney said. “It will need new energy sources and has no possibility of being self-sufficient”.

“The European Union will demand 10m tonnes/year of biofuel that [the EU] will not have the capacity to produce on its own,” said Roland Stein, a biofuels legal expert with the firm Freshfields Bruckhaus Deringer.

Argentina will become one of the main players in the biodiesel export business due to its optimum production conditions and the increasing demand in the European market, a source said.

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By: Cristina Kroll
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