The arrival of this barge will enable the Vaca Muerta gas to be marketed to more than 40 LNG import countries. It is the first floating LNG export project in Latin America and ranks third in Argentina's selected group of LNG exporting countries.
Istiy We are very excited about this project, because it opens new markets and accelerates the money-making of Argentina's vast natural gas reserves.Said Nicolas Saverys, CEO of Exmar.
"With this project, we can add value to the source extracted from Vaca Muerta and benefit from the seasonal compatibility with the northern hemisphere markets which are our unique position for these demand centers.Said Miguel Gutiérrez, President of YPF.
This initiative, which will focus on LNG exports to different international markets including Asia, Europe and regional markets, accelerates the monetization of wide-ranging natural gas reserves and enables new capital to discover and develop the important sources of Vaca Muerta. . In particular, it represents 10 percent of total fuel and energy exports and will generate more than $ 200 million per year, exceeding the exports of rice, honey and hides.
Although the market requires the import of LNG in the winter season due to the seasonality, Argentina has begun to move forward in a virtuous path, in which the benefits of gas investments in recent years have been observed and accelerated. Future projects have highlighted that the LNG is likely to be moved to the LNG Terminal of Escobar and has taken a place for the import of the product, which has had a positive impact on national accounts.
This project confirms the strategic interest of a growing market and the development potential of floating LNG projects. The technology developed by Exmar is the result of innovative leadership and more than 40 years of experience in the company's industry.
DETAILED INFORMATION OF THE PROJECT
The barge to be called TANGO FLNG on arrival is a new and floating unit with a storage capacity of 16.100 m3 LNG and liquefying 2.5 mm3 / d natural gas. Its annual output is equivalent to 1 year consumption of one million households.
This floating unit is the first of its kind developed by Exmar and adds an unprecedented value to the production of LNG at a competitive price.
The Bahía Blanca will be operational in the port and will be scheduled for arrival and the first quarter of 2019.
From the start of the negotiations to the signing of the contracts, five months have passed, which means a record time to make this project possible. This shows the level of focus, professionalism, proactive and operational flexibility of both companies in order to enable the first export of Argentina LNG in history.
The YPF and Exmar signed a 10-year contract with an investment of about 20 million dollars.