YPF stated that a preliminary agreement was reached with Excelerate Energy for the constitution of an LNG provider, which can export Argentina’s extra LNG to the global natural gas market.
Each party can be executing the final agreement in the coming days, with the target of starting operations the first week of September
“We continue progressing in our ambition to add value to Argentine natural gas and to export surpluses throughout these months of low native consumption, to extract the potential as producer and exporter of Argentine natural gas,” mentioned Marcos Browne, Executive Vice President of Gas and Energy of YPF.
Gabriela Aguilar, the general supervisor of Excelerate in Argentina, added, “It’s a milestone for us to associate with YPF on this activity by contributing all of our industry know-how in the transportation of Argentine natural gas to the world.”
The natural gas, produced mainly from Vaca Muerta, will probably be processed by the TANGO FLNG unit on the “Mega” port in Bahía Blanca, and from there, it will likely be transported by the LNG carrier EXCALIBUR, which has a storage capacity of 138,000 m3. The loading of YPF’s product to the LNG carrier can be carried out by way of an operation that can last roughly 45 days.
The ship provided by Excelerate has confirmed expertise in the leading international LNG terminals, and as a part of this settlement, might be within the service to YPF till May 2020. Will probably be one of two ships that YPF will utilize to move Argentine LNG to the global market.
YPF commissioned its first cargo in May, attaining a historic milestone, becoming the first Argentine company to export LNG in its history.