“Without RIGI there is no LNG”. The message, as concise as it is forceful, corresponds to the president of YPF, Horacio Marinand the recipient is the governor of the province of Buenos Aires, Axel Kicillof.
Regarding the treatment of the Bases Law and the fiscal package in Deputies, after the changes approved by the Senate, the oil company executive warned the head of the Buenos Aires Government that if he does not adhere to the Large Investment Incentive Regimethe liquefied natural gas plant that is planned to be built next to Petronas, to boost the export of gas Dead cow, will be installed in Black river.
Marín issued these statements on Monday in an interview with Carlos Pagni in LN+. In this way he intervened in the conflict between Kicillof, who promotes the installation of the plant in Bahía Blanca, and his Rio Negro counterpart, Alberto Weretilneckwhose intention is that the initiative be transferred to Punta Coloradawhere YPF plans the construction of a port.
“In order for them to put those billions of dollars in Argentina and not in another country, they needed it to be profitable at low prices. Without RIGI, at $8 per million BTU, it was not profitable. Therefore, those capitals did not come to Argentina,” explained the president of YPF, who revealed that the oil company sent an “official letter” to both governments – and that he personally spoke with the two governors – detailing the “three points that are economic incentives for the project and four points of aid in permits.”
“In turn, Gustavo Gallino, who is the engineer who built the Néstor Kirchner Gasduct in record time, came to work with me as vice president of infrastructure. He now found an advantage to see where to make the gas pipelines and in what places and savings for the project,” he added, hinting at the advantage in favor of Punta Colorada over Bahía Blanca.
Although Marín did not rule out anyone, he clarified that if Buenos Aires does not adhere to the RIGI there is no way for the project to be carried out in Bahía Blanca. “Obviously They have to join the RIGI. If they do not adhere to the RIGI, the discussion is over. If the Province does not adhere, there is no need to discuss anything, it will go to the province that adheres to the RIGI. It’s obvious, Who is going to put up the money if not?”he stated.
“When we say where it is most profitable, the people from YPF who work in LNG are going to get together with the people from Petronas and, once the decision is made, I am going to personally go to each of the governors, I am going to show them the numbers and then I’m going to make it public. “It is the procedure and everyone knows it, no one here is playing strangely,” stated the company executive.
Marín’s words were supported by the block of Buenos Aires Senators from La Libertad Avanza, who pointed out: “The liquefied gas plant has to be in the Province.” The development of it “It must be a State policy to enhance the productive development of the region and benefit thousands of Buenos Aires families”.
Through a series of tweetsthe libertarian legislators expressed – in line with the head of YPF – that “It is necessary for the Province to adhere to the Large Investment Incentive Regime as provided for in the Base Law”.
“The growth of the Province cannot be subject to ideological disputes with the National Government. “It is a key moment to make decisions thinking about the people of Buenos Aires”LLA concluded in his account x.
The project that was born in the government of Alberto Fernandez It has full continuity in this one. This is the possible largest infrastructure project in Argentine history that would allow, from 2031 and if official forecasts are met, total annual exports of around USD 30,000 million. Marín’s intention is for all local companies to join and YPF’s forecast is that the RIGI will be sanctioned at the beginning of July.
The one who reacted against Marín’s statements was the former national deputy of Federal Consensus, Alejandro “Topo” Rodríguez: “Who is the President of YPF, Horacio Marín, to publicly put pressure on the Province of Buenos Aires? The man says that if the Province does not adhere to the RIGI, then ‘the discussion is over’. And he adds that if Buenos Aires does not join, the investments for the liquefaction of Vaca Muerta gas will not go to Bahía Blanca but ‘to the province that joins the RIGI, it is obvious.’”
“The President of YPF has no competence or legitimacy to define in advance where the investments will go.but it is evident that is exerting brutal and illegal political pressure so that the Province of Buenos Aires is subordinated to the policies of President Javier Milei,” denounced Rodríguez. “This circumstance makes the entire process opaque, arbitrary and rigged. “It is serious,” he warned on his account. x.
