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ECONOMY | 17-05-2019 14:24

Argentina poised to export first shipment of Liquefied Natural Gas

YPF, the state-run oil and gas producer, is seeking to sell a partial shipment from its Tango floating liquefaction unit in Bahía Blanca, according to traders with knowledge of the matter.

Argentina is poised to export its first shipment of liquefied natural gas (LNG), with the country's officials saying the country is close to becoming a regular exporter of fuel.

YPF, the state-run oil and gas producer, is seeking to sell a partial shipment from its Tango floating liquefaction unit in Bahía Blanca, according to traders with knowledge of the matter.

The company is currently negotiating the over-the-counter sale of 30,000 cubic metres to load in the summer, the merchants said, who asked Bloomberg not to reveal their identity.

A spokesperson for YPF declined to comment.

Exporting that amount of LNG, while relatively small compared to standard shipment sizes, will mark Argentina's transition from being one of the largest LNG importers in Latin America to becoming an exporter. 

Last year, YPF signed a 10-year contract with Belgian company Exmar to install a floating liquefaction plant to produce and export fuel. The Tango unit docked at the Bahía Blanca port in February.

Energy Secretary Gustavo Lopetegui said in April that YPF would move its first shipment in August. The plant will produce up to eight shipments per year from the Vaca Muerta shale gas site in the Neuquén basin, Exmar annnounced last year.

- BLOOMBERG WITH TIMES

by by Stephen Stapczynski, Bloomberg

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