(Source: Shutterstock.com)
Shell (SHEL) and Argentina’s state-run petrochemical firm YPF will develop the South American country’s first LNG export project, the companies said in separate press releases Dec. 19.
The overall project is expected to cost $50 billion. The first phase will result in two floating platforms producing about 10 million metric tons of LNG per year. The companies did not give a projected start-up date. Future phases will include onshore facilities.
Shell said the deal falls under the company’s overall strategy to grow its LNG business.
YPF had originally been working to develop LNG with Malaysian state oil company Petronas, according to YPF’s statement. The deal with Shell ends the South American country’s first partnership.
"We are proud that Shell, a world leader in LNG production, is joining the project," YPF President Horacio Marin said in his company’s statement.
Recommended Reading
Phillips 66’s NGL Focus, Midstream Acquisitions Pay Off in 2024
2025-02-04 - Phillips 66 reported record volumes for 2024 as it advances a wellhead-to-market strategy within its midstream business.
Pinnacle Midstream Execs Form Energy Spectrum-Backed Renegade
2025-02-03 - Renegade Infrastructure, led by Permian-centric Pinnacle Midstream developers Drew Ward and Jason Tanous, have received a capital commitment from Energy Spectrum Partners.
Argent LNG, Baker Hughes Sign Agreement for Louisiana Project
2025-02-03 - Baker Hughes will provide infrastructure for Argent LNG’s 24 mtpa Louisiana project, which is slated to start construction in 2026.
Venture Global LNG Pares IPO Hopes by 15% to $2.2B
2025-01-22 - LNG exporter Venture Global nearly halved the price per share, while increasing the number of shares it expects to offer.
Velocity Management Invests in Pipeline Builder M Wright Services
2025-01-16 - Velocity Management Advisors has made a minority investment in M Wright Services and three of Velocity’s partners will join the construction firm’s board.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.