Sunday , April 11 2021

End of life: YPF will start exporting LNG in 2019



The YPF company announced on Wednesday an agreement with the Belgian company, Exmar, to a contract for the next 10 years, which will allow it to export Natural Gas Liquid (LNG) from 2019, which will install Argentina in a small group of trading countries of that product.

This was announced today by the president of YPF, Miguel Gutiérrez; CEO, Daniel González, and vice president of Gas and Energy, Marcos Browne, along with executive officers of the Exmar company led by CEO, Nicolas Saverys, at a meeting held at the Argentine company headquarters in Puerto Madero.

The project

It is an industrialization project that will allow the company to export up to 5% of its current production, estimated at 40 to 45 million cubic meters a day, until it is progressing in his megaproject for heifaction plant construction on land.

"With this project, we can add value to the resource taken from Vaca Muerta, and take advantage of seasonal sympathy with markets in the north hemisphere," said Gutiérrez, stating that the approach to markets Differents include Asia, Europe and regional markets.

It will be a test to the company that will allow YPF "to learn about a major transformational project for the country, which is the LNG export terminal, behind which is to develop all areas in Vaca Muerta and to be able to "emphasized Gutiérrez.

In the same sense, Gonzalez said "thinking of a global LNG terminal we have to think for no less than 20 million cubic meters a day (in a first modular stage) that's just what which can allow the development of Vaca gas Dying to full potential. "

"Argentina could double its production but they need new sources of demand, and this is the best way of doing so by exporting natural gas in the form of liquid gas," said the company's CEO.

Imports

The monetization of the extensive reserves of natural gas will generate revenue of more than US $ 200 million a year, "which represents 10% of the total fuel and energy exports and more than the exports of rice, honey and hides", explained by the company at a press meeting.

The unique contract bargain with YPF will have to operate over the next 10 years to color natural gas in the Bahía Blanca area, in the same maritime zone where the rescue boat was located for weeks.

And among the possibilities opened by its presence in the country, it was pointed out that the LNG generated will be transported to the Escobar LNG Terminal and is used to replace the imports of that product, with a positive impact on the accounts national.

The surgeon, known as Tango FLNG, will be able to steer 2.5 million cubic meters a day, equivalent to 500,000 tonnes of LNG per annum, estimated to be equivalent to one year out of one million from homes.

Meanwhile, he explained that the operation would include "installing around eight methane tanks per year, through the detailed market that represents 40% of the LNG that is marketed throughout the world, with very important compatibility with the demand of the 40 main importers ".

"With this, we managed to put natural gas into the international market that today's market is not seasonal for Argentina," explained Browne.

According to the operational forecasts, "by mid-February, the bargain will be able to start the customization operations and startup exercises to begin production between May and the first days of Argentina's winter."

After the maximum winter demand in the country, the agreement provides that, from September, the burden will be produced with full capacity.


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