The announcement of YPF On its entrance to the Pan American Energy (PAE) project to export liquefied natural gas (LNG) since the formation of Vaca Muerta from 2027 has been a significant milestone in the Argentine energy industry.
This project of YPFknown as “Argentina LNG”, aims to position itself as a key supplier in the world LNG market, with an ambitious goal to reach sales of 30 million tons per year by 2031, which would result in annual revenues of approximately 15,000 million of dollars.
The initiative was presented in the incentive regime for large investments (Rigi) and awaits government approval. The estimated total investment for the project is 7,000 million dollars throughout its two decades of operation, with an initial investment of 2.9 billion dollars in the first 10 years.
This project not only seeks to increase the export capacity of LNG, but also generate employment, develop local suppliers and introduce new productive and technological processes. The “Hilli Episeyo” liquefaction ship, which will be installed in the province of Río Negro, is a key piece of the project.
This ship belongs to the Southern Energy Society, created by PAE and Golar LNG, and will feature the participation of several strategic partners, including Pampa Energía, Harbor Energy and YPF. YPF It will have a 15% participation in Southern Energy and promised to supply 16.67% of natural gas volumes from its operations in Vaca Muerta.
The president and CEO of YPFHoracio Marín, highlighted the importance of this strategic alliance to specify the project that will transform the country into the next 10 years. “Forming this alliance with PAE, Pampa Energía, Harbor Energy and Golar is strategic to specify this project that will transform the country into the next 10 years,” said Marín.
Agreement
The signing of the agreement was attended by several industry leaders, including Marcos Bulgheroni, Group CEO of Pae, and Nicolás Mindlin, Executive Vice President of Pampa Energía. The process to turn Argentina into a LNG exporting country is planned in stages.
The first phase includes the installation of the “Hilli Episeyo” in 2027, followed by the production of gas in blocks dedicated in Vaca Muerta, its transport through dedicated gas pipelines and a processing terminal (offshore/onshore) in the province of Río Negro . In principle, ships will be used for liquefaction, although the possibility of a plant on land is not ruled out.
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