Nicloas Saverys-led Exmar has entered into a 10-year agreement with Argentine energy company YPF for the deployment of the company’s floating LNG liquefaction unit (FLNG) Caribbean FLNG to produce and export LNG from the Vaca Muerta source at the Neuquén Basin in Argentina.
The FLNG barge, which has a liquefaction capacity of 500,000 tons of LNG per annum, will be renamed Tango FLNG and deployed to the port of Bahia Blanca.
The project marks the entry of Argentina to the select club of global LNG exporting nations. The country has an initial plan to export 500,000 tons of LNG per year to overseas markets.
“We are delighted to reach this agreement with YPF. It opens up new markets and opportunities for the fast-track monetization of natural gas reserves along new routes of energy. We are confident that EXMAR’s experience in the region and unique expertise in liquefaction will support YPF’s ambition to become a significant LNG supplier,” commented Nicolas Saverys, Exmar’s Chief Executive Officer.