YPF President and CEO Horacio Marin, and Shell’s Executive Vice President of LNG, Cederic Cremers, signed a PDA for the development of Argentina’s LNG Project in The Hague, Netherlands.
The PDA means that Shell will join the project. The parties commit to mature the development of the first phase of the Argentina LNG project towards a decision to enter the Front -End Engineering and Design (FEED) stage. The first phase has a liquefaction capacity of 10 million tons per year (MTPA).
“We are proud to have Shell, with its world leading LNG business, join the project. As a pioneer in the LNG market, Shell’s knowledge and experience will be instrumental in helping position Argentina as a reliable and competitive global energy provider,” said the president of YPF.
With Shell entering into the development of the first phase of the ARG LNG Project, Petronas’ participation as a partner of YPF has come to an end. Both will continue working on the development of the La Amarga Chica area in Vaca Muerta. YPF acknowledges Petronas’ valuable contribution during the last two years, sharing with YPF’s teams its technical and commercial experience in the LNG market. The joint work has contributed to the development of the ARG LNG Project to its current stage and will allow further steps to be taken.
About the Argentina LNG Project
Argentina LNG is a project for the liquefaction of gas for export to global markets. It includes gas production from dedicated blocks in Vaca Muerta and its transportation through dedicated pipelines. These pipelines will extend 580 kilometers to a processing and liquefaction terminal to be built in Sierra Grande, Rio Negro, on the Atlantic coast.
