Camuzzi, Vitol sign MoU for Argentina's $3.9 billion LNG del Plata project
Camuzzi Gas Inversora signed a Memorandum of Understanding with?Vitol for Argentina's LNG Del?Plata Project, the?Argentine?firm announced?on?Monday. Vitol could potentially acquire up to 100% production and evaluate an equity investment.
The project is located in the Port of La Plata, Buenos Aires Province, and requires an investment of $3.9 bn over the next twenty years.
Vitol can purchase up to 100% of LNG 'del Plata production via a long-term agreement.
* Vitol is also evaluating the possibility of a joint equity investment with Camuzzi in this project.
Camuzzi said that the dual-purpose project would export liquefied?gas and also strengthen domestic supply in peak demand months of Argentina.
The project can access a?infrastructure that transports natural?gas out of the vast Vaca Muerta shale in?the Neuquen basin.
* LNG del Plata aims to export more than 2.4 millions metric tons a year. This is equivalent to a production of more than 9 million cubic metres per day of natural Gas. (Reporting and editing by Gabriel Araujo; Eliana Raszewski)
(source: Reuters)
