YPF and Shell Partner to Advance $50 Billion Argentina LNG Project
(Reuters) — Argentina's state-run oil company YPF and oil major Shell signed an agreement to develop the country's flagship liquefied natural gas (LNG) project, the companies said on Thursday.
The multi-stage $50 billion Argentina LNG project aims to export the gas to major global markets.
The agreement, which was signed in the Netherlands, brings the Dutch oil giant on for the first phase of the project, which aims to produce 10 million metric tons of LNG per year.
"We are proud that Shell, a world leader in LNG production, is joining the project," YPF President Horacio Marin said in a statement.
"As a pioneer in the LNG market, Shell's knowledge and experience will be instrumental in helping to position Argentina as a reliable and competitive global energy supplier."
The statement said that the agreement means Malaysian state oil company Petronas' participation in the project had ended. It added that Petronas and YPF would continue developing the La Amarga Chica area in Vaca Muerta, the second largest unconventional gas reserve in the world and the fourth largest oil reserve.
Shell said in a separate statement that the LNG project "is aligned with Shell's plans to continue growing its LNG business."
Argentina LNG will also extract gas from Vaca Muerta and transport it through dedicated gas pipelines to the coastal province of Rio Negro. The first phase of the project will use LNG vessels while future phases envision the construction of onshore LNG facilities.
Related News
Related News

- Energy Transfer Wins New York Court Ruling in $150 Million Pipeline Fraud Case
- Trump Puts Keystone XL Pipeline Back in Discussion, Though Revival Faces Developer Resistance
- $3 Billion Natural Gas Pipeline Expansion to Add 1.3 Bcf Capacity in Southeast Region
- ONEOK, MPLX to Build $1.4 Billion LPG Export Terminal, Pipeline in Texas
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- India’s GAIL Eyes U.S. LNG Deals Following Trump’s Policy Shift
- Saudi Arabia May Cut December Oil Prices for Asia, Sources Say
- NDT, Aramco to Launch 56-Inch Inspection Tool
Comments