Argentina’s YPF says close to signing more LNG sales contracts
State-run YPF close to signing several liquefied natural gas sales contracts for proposed US$24-billion export plant Argentina LNG. Leer más
Argentina's state-owned energy company YPF SA is on the verge of finalizing several LNG sales contracts for a proposed $24-billion export plant, according to its chief executive. The company is expected to sign two to three 0.5 million to 1.5 million ton-per-year LNG deals soon, CEO Horacio Marín announced at the Gastech conference in Bangkok.
YPF aims to secure these contracts before making the final investment decision on the project in November, he added. The joint venture Argentina LNG, comprising Italy's Eni SpA and Abu Dhabi’s XRG along with YPF, holds roughly equal equity stakes. The offshore LNG terminal on Argentina's Atlantic coast would produce 12 million tons annually, making it one of the world's largest floating facilities.
The potential contracts come as the global LNG market faces disruption due to months of turmoil in the Persian Gulf and the Strait of Hormuz, effectively cutting off about a fifth of global supply of the super-cold fuel. LNG buyers in Asia and other regions are seeking to diversify away from the Middle East to reduce future risks.
Written by urgent.news from Buenos Aires Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
