YPF in Talks With Supermajors for Equity in Argentina LNG Plant

Bloomberg11-09

(Bloomberg) -- Argentina’s biggest oil and gas driller, state-run YPF SA, is in talks with global supermajors to become equity partners in its LNG export project as the company’s chief executive ...

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In the third quarter, Argentine drivers paid slightly more than global reference prices — a rare turnaround spurred by the government of President Javier Milei, which ended the market-meddling of previous administrations designed to keep fuel cheap.“These are remarkable results after a continuous conviction to follow international parities,” Max Westen, head of strategy and business development, said on the call.Meanwhile, Marin has been meeting potential buyers of LNG in Asia and Europe. On the call, he said YPF has reached more than a dozen agreements with suitors to explore offtake contracts and plans to have another soon with India for a “big number.”Another key to boosting shale exports is the construction of a $2.5 billion cross-country oil pipeline. YPF — which will have an equity stake of up to 40% in the project, called Vaca Muerta Sur — is leading drillers’ search for funding, and international banks have signed letters of intent to lend $1.5 billion, said Chief Financial Officer Federico Barroetavena.“We believe that we have strong interest to finance this deal, but it will be a process that takes some time,” Barroetavena said.©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482305184"}