📋 Tender Overview
President Alberto Fernndez announced today at the CCK together with the head of YPF Pablo Gonzlez and the CEO of Petronas Datuk Tengku Muhammad Taufik a joint study and development agreement for the construction in Argentina of an LNG production plant the most important infrastructure of the last 30 years in the Argentine energy matrix.This strategic project for the countrys energy sovereignty will be developed through a partnership between YPF and Petronas the Malaysian state oil company and one of the four largest LNG companies in the world with a presence in more than 50 countries.Today we are achieving the objective that we have set for ourselves not letting the gas sleep there in Vaca Muerta get it out as soon as we can use what we need and export and bring profits with it said the President stressing that we firmly believe that linking up with the The rest of the world is good for us but linking up as we want not as someone sends us and today we are making a sovereign decision deepening the link with Petronas.Both companies have been working together for 8 years in the development of Vaca Muerta the second largest unconventional gas reserve in the world. Now with the union of YPF and Petronas to develop the LNG plant we are witnessing a kind of laying a foundation stone of a time in which Argentina enters the global world in another way the head of state remarked during the project presentation.Finally the president stressed that we are taking a huge step. And perhaps we do not take dimension of what is happening. But in ten years someone will remember this day.The head of YPF for his part said that we have almost 2000 million dollars of investment between YPF and Petronas during these years carrying out a comprehensive project that will put Argentina on the world gas map. And we have been working for two years on this project which is a reality based on a State policy that favors the growth of the countrys energy.Gonzlez also pointed out that we are starting a process that determines investment in Vaca Muerta the construction of a gas pipeline and a port and that once the first stage is finished we plan to export 460 ships per year.Meanwhile Datuk Tengku Muhammad Taufik thanked the Argentine Government for the possibility of being one of the partners for the progress of this rich nation and highlighted that in the year of YPFs 100th anniversary we achieved well number 100 in production in January of this year 2022 through a close working relationship between Petronas and YPF as partners in this joint venture with plans to increase production to 120000 barrels of crude oil per day.The LNG production plant is a project with an investment of approximately 10 billion dollars in the first stage alone which will allow the production of up to 5 million tonsyear of LNG. And within 10 years when the project is completed it will be possible to produce and export more than 25 million tonsyear of LNG.Currently at the peak of winter consumption our country imports around 35 LNG ships per year. When the LNG plant reaches its maximum capacity Argentina will export more than 460 ships per year making LNG one of the main export sectors and generators of foreign exchange for the country in addition to being a key clean energy in the energy transition.
