Argentina’s LNG carriers focus on project to start production in 2027 New regulatory framework secures LNG exports for 30 years
HOUSTON, Sept. 18 – BP’s Pan American Energy (BPPAE.UL) is considering negotiating contracts with Asian consumers to allocate liquefied natural gas from a floating project in Argentina, a company deputy said. President Rodolfo Freire spoke at the Gastech conference on Wednesday.
Pan-American offshore infrastructure company Gawler LNG (GLNG.O) opened in a new tab in July and signed a deal to deploy vessels to Argentina that will be used to produce LNG off the coast of the South American country from mid-2027. Signed.
The ship is currently under contract to operate in Cameroon, but the contract is scheduled to end in 2026, Freire said. Pan American floating project could start Argentina’s LNG exports.
“We saw that Goral had this opportunity and started working hard with them, and we actually signed a 20-year contract with the hope that LNG production would start probably by 2027. We acted very quickly to sign the contract,” Freire said. .
Pan Am has set up talks with potential LNG buyers from several Asian countries, company officials said this week in Houston. A delegation from rival Argentine producer YPF (YPFDm.BA) visited India last month, also seeking to negotiate an LNG deal, the company’s CEO said last week.
Oil and gas producers YPF, Petronas (PETRA.UL), Techpetrol and Pan American are moving ahead with three projects that will turn Argentina, which has the world’s second-largest shale gas reserves, into an LNG exporter within the next few years. There is. All three will require a total investment of more than $60 billion.
These projects are expected to be driven by new regulations proposed by President Javier Millay’s government for large-scale investments, including LNG development.
“RIGI (Regular Investment Promotion Scheme) is basically a benefit to promote stability. We are working a lot with governments to make these kinds of projects viable. Without that, you could say there would be no LNG, period,” Freire said.
The law is expected to ensure LNG exports for up to 30 years, barring any policy changes that could cause obstacles, he added.
Energy Secretary Eduardo Rodríguez Chirillo said last week in Houston that Mr. Milay’s economic reforms have already cut Argentina’s energy subsidies by $2.7 billion this year, while energy trade has been cut by nearly $3 billion compared to last year’s deficit. He said that the company was in the black.
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Reporting by Marianna Paraga and Georgina McCartney in Houston Editing by Peter Henderson and Lisa Shoemaker
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