BMI View: Chile’s small resource base makes the country heavily dependent upon imports to satisfy demand and promote economic growth. This will persist in spite of some long-term upside potential stemming from the country’s shale gas prospects. In the meantime, imported liquefied natural gas will play a greater role in energy security. The key trends and developments in the Chilean oil and gas sector are: ? In terms of domestic production, we forecast oil output will fall from an estimated 17,280 barrels per day (b/d) in 2012 to 16,5200b/d by 2017 and 16,050b/d by 2022. Meanwhile, gas output will slow …
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