The National Government approved on Friday the third project under the incentive regime for large investments (Rigi). This is “Argentina LNG”, an initiative led by an energy consortium that plans to export liquefied Gas de Vaca Muerta from the coast of Río Negro from 2027, with estimated revenues at US $ 2500 million per year.
The Minister of Economy, Luis Caputo, announced it in his X account: “It is one of the world’s largest fluff projects, and it will be reality in Argentina.” The estimated initial investment is US $ 2900 million in ten years, and US $ 7000 million in total for the two decades of entrepreneurship.
The Southern Energy consortium is made up of Pan American Energy (30%), YPF (25%), Pampa Energía (20%), Harbor Energy (15%) and the Norwegian Glacear LNG (10%). Precisely to play will contribute the two floating liquefaction ships that will process the gas in the San Matías Gulf.
One of them, Hilli Episeyo, will begin operating in 2027; The second, baptized MKI and currently under construction in China, will arrive in 2028. Both will liquefy up to 28 million cubic meters per day, equivalent to 20% of the country’s current production.
The initial plan contemplated a plant on land, but was discarded. Instead, ships will transform the gas directly into the altamar. To supply them, it will be necessary to build a new gas pipeline from Vaca Muerta to the coast of Río Negro.
“The project will generate employment, develop local suppliers, will boost technological innovation and open new export destinations,” they said from PAE in a statement.
At the end of April, the Ministry of Energy had already authorized the consortium to export liquefied gas for 30 years. With the approval of the Rigi, a strategic step is sealed for Argentina to join the select group of LNG exporting countries.
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