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According to a US SEC filing, YPF said that the company’s audit committee issued its opinion regarding the extension of the joint venture contract LNG Escobar until January 31, 2029.
The committee concluded that the “terms and conditions thereof are in accordance with the
normal and customary market standards for agreements entered into in similar transactions between independent parties.”
YPF did not provide further details.
Launched in 2011, GNL Escobar (GNLE) is located on the Parana River, about 30 miles outside Buenos Aires.
YPF and Enarsa operate the facility via a 50/50 joint venture.
Excelerate Energy’s 150,900-cbm Expedient FSRU serves the LNG import terminal.
According to Enarsa’s website, the company purchased 27 LNG cargoes for delivery to this facility via four separate tenders this year.
The cargoes were purchased for delivery between March and July.
A unit of UK-based energy giant BP won tenders to provide 20 of these cargoes, while a unit of French energy giant TotalEnergies won tenders to provide seven cargoes.
The shipments, worth approximately $698 million, were sourced from Trinidad and Tobago’s Point Fortin LNG facility (15 cargoes) and the US (11 cargoes).
Argentina imports LNG despite its vast Vaca Muerta shale gas resources.
YPF and its partners are working on the giant Argentina LNG export project with a capacity of up to 30 million mt.
Argentina’s Southern Energy, owned by Pan American Energy, YPF, Pampa Energia, Harbour Energy, and Golar LNG, took a final investment decision on the second floating LNG production unit in August this year.
SESA will install two converted FLNGs owned by Golar LNG in Argentina.
