The Strategist
The Strategist

Argentina sets to become LNG exporter in 2027



07/11/2024 - 05:52



The privately held Pan American Energy (PAE, a joint venture between UK-based BP and Argentina's Bridas Corporation, which is 50% owned by China's CNOOC Limited), and Golar LNG, which is registered in Bermuda, have finalized their agreement to install a 2.45 million tons per year floating liquefied natural gas (FLNG) terminal in Argentina for a 20-year period.



freerangestock.com
freerangestock.com
The Vaca Muerta province, which is regarded as the second basin in terms of shale gas volumes, will utilize the FLNG to commercialize its gas deposits.

The first LNG exports are anticipated in 2027. At the moment, Argentina imports the fuel. With 1.8 million tons imported in 2023, Argentina surpassed all other LNG importers in the area, according to GIIGNL.

In accordance with the agreements, Golar will own a 10% share in Southern Energy S.A., a joint venture with PAE that is in charge of importing LNG from outside of Argentina and buying gas in Argentina.

This project is the first step of a possible multi-vessel project, to which other significant Argentine natural gas producers are anticipated to contribute.

source: bloomberg.com