YPF and Excelerate have reached an agreement for the transport of a new LNG shipment to be completed in September.
YPF has announced that a preliminary agreement has been reached with the company Excelerate Energy for the charter of liquefied natural gas (LNG) carrier that will transport LNG produced in the TANG FLNG unit, located in Bahía Blanca, to the global natural gas markets.
Both parties will be executing the final agreement in the coming days, with the objective of starting operations during the first week of September.
“We continue progressing in our ambition to add value to Argentine natural gas and to export surpluses during those months of low local consumption, to fully exploit the potential as producer and exporter of Argentine natural gas”, explained Marcos Browne, executive Vice President of Gas and Energy of YPF.
Gabriela Aguilar, General Manager of Excelerate in Argentina, added ,” It’s a milestone for us to partner YPF in this activity by contributing all of our know-how in the transportation of Argentine natural gas to the world”
The natural gas, coming mainly from Vaca Muerta, will be processed by the TANGO FLNG unit at the Mega port in Bahía Blanca and from there, it will be transported by the Belgian–flagged LNG carrier, which has a storage capacity of 138,000 m3 of LNG. The loading of YPF’s product to the LNG carrier will be carried out through an operation that will last approximately 45 days.
The ship provided by Excelerate has proven experience in the main international LNG terminals, and as part of this agreement, it will be at YPF’s service until May 2020. It will be one of the ships that YPF will have at its disposal to transport Argentine LNG to the global market.
YPF commissioned its first cargo in May, establishing a historic milestone as it has become the first Argentine company to export LNG in its history.
About Excelerate Energy L.P.
Excelerate Energy L.P. (Excelerate) is a US-based company, located in The Woodlands, Texas.
Excelerate is owned by George Kaiser, whose energy group also includes Kaiser Francis Oil Co, an exploration and production company with production in US and Canada along with significant midstream assets, and Cactus Drilling Co, the largest private drilling company in the US. Excelerate is the pioneer and market leader in innovative floating LNG solutions, providing integrated services along the entire LNG value chain with the objective of providing rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of floating regasification services from FSRU up to infrastructure development and LNG supply.
Excelerate has offices in Abu Dhabi, Buenos Aires, Chittagong, Dhaka, Doha, Dubai, Río de Janeiro, Singapur and Washington DC.
About YPF
YPF is the main energy company in Argentina and leader in the production of non-conventional resources. It is an integrated energy company that generates a varied offer: natural gas, electricity, fuels, petrochemical inputs, lubricants and agricultural products , among others. It has more than 1,500 service stations that allow it to supply to every point of the country.
