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Marin revealed this during YPF’s first-quarter earnings call on May 8.
Earlier this month, Golar LNG announced the decision and fulfillment of all conditions precedent for the 20-year re-deployment charter of the FLNG Hilli Episeyo, first announced in July 2024.
FLNG Hilli, with a nameplate capacity of 2.45 mtpa, is expected to start its contract in 2027.
The vessel will be chartered to Southern Energy (SESA), offshore Argentina.
SESA’s shareholders comprise Pan American Energy (30 percent), YPF (25 percent), Pampa Energia (20 percent), Harbour Energy (15 percent), and Golar LNG (10 percent).
In addition, Golar and SESA have signed definitive agreements for a 20-year charter for the MKII FLNG, currently under conversion at CIMC Raffles shipyard in Yantai, China.
Golar LNG said at the time the MKII FLNG charter remains subject to FID and the same regulatory approvals as granted to the FLNG Hilli project, expected within 2025.
Marin said during the call that FID on the second FLNG is “estimated to be no later than July 31.”
If approved, the MKII FLNG, with a nameplate capacity of 3.5 mtpa, is expected to start operations in 2028.
“This second vessel allows the contraction of a 100 percent dedicated gas pipeline from Vaca Muerta to the South Mattila house in the Province of Rio Negro available during the whole year instead of using existing pipeline idle capacity during the off-peak season,” Marin said.
Three Argentina LNG phases
On the other hand, in mid-April, YPF signed a memorandum of understanding with Italy’s Eni, the strategic partner for the third phase of the Argentina LNG project, Marin said.
The project phase covered by the MoU relates to the development of upstream, transportation, and gas liquefaction facilities through two floating LNG units of 6 mtpa each, for a total of 12 mtpa.
According to Eni, this phase would cost about $20 billion.
Marin previously said that the first phase of the Argentina LNG project is the SESA project, while YPF is developing the second phase with UK-based LNG giant Shell.
The second phase would have a capacity of 10 mtpa and two FLNGs.
In December 2024, YPF Shell signed a project development agreement (PDA) for the second phase of the Argentina LNG export project.
Including all phases, the Argentina LNG project would reach a capacity of about 30 mtpa.
Marin said during the call that the phase with Shell is in the FEED process.
The CEO said that the decision could be made by the end of next year following the completion of FEED, but this would depend on several factors.
Also, YPF and Eni are targeting FID for their project by the end of this year.
“That is our goal, but things can change,” Marin said.
