Argentina is behind on at least $700 million in promised subsidy payments to natural gas producers, hurting oil companies at a time when the government is trying to woo more investment in the nation's energy sector. The incentives have cost cash-strapped Argentina more than $7 billion since they were implemented in 2013 by former leftist President Cristina Fernandez. The program, unique in Latin America, is aimed at attracting investment to help boost the country's declining output and reduce its reliance on imported liquefied natural gas.

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