YPF: Argentina's energy exports will reach $50 billion by 2031.
The YPF chief executive, Horacio Martin, stated on Thursday that Argentina's energy exports will reach $50 billion a year by 2031. This is primarily due to sales of liquefied?natural?gas.
He said that he estimated $130 billion would be invested by 2031 in the country for the development and transportation infrastructure of crude oil and LNG from the Vaca Muerta Region - which is the second largest unconventional gas reserve in the world and the fourth largest?oil reserves.
Marin estimated that Argentina could produce 1 million barrels of oil per day (bpd), up from the current level of 900,000.
Argentina wants to be a global player in energy, and exports from the Vaca Muerta company will help it achieve this goal.
YPF leads projects to transport the gas from Vaca Muerta, to a port on the Atlantic coast in Rio Negro Province. Two ships will then arrive to convert it to LNG and ship it worldwide.
Southern Energy, a company that includes YPF and Golar LNG as well as Pampa 'Energia,?Harbour Energy?, has agreed on bringing in two ships.
The 'Hilli Episeyo' is expected to arrive during the second half of 2027, while the MKII will arrive in 2028. The ships have a capacity of 2.4 million tons and 3.5 millions tons, respectively. (Reporting and editing by Eliana Razewski; Lucinda Elliot, Sarah Morland, and Marianna Paraga)
(source: Reuters)
