In a key initiative to position Argentina as an energy exporter, YPF signed a Memorandum of Understanding (MOU) with major energy companies in India: Oil and Natural Gas Corporation (OIL), Gas Authority of India Limited (GAIL) and Oil and Natural Gas Corporation Videsh Limited (OVL).
The agreement contemplates the export of up to 10 million tons per year of Liquefied Natural Gas (LNG)in addition to cooperation in lithium, critical minerals and hydrocarbon exploration.
An energy bridge between Argentina and India
The signing of the MOU took place in New Delhi and was attended by the president and CEO of YPF, Horacio Marin, and Hardeep Sinh Puri, Minister of Petroleum and Natural Gas of India, as well as senior executives from Asian companies.
The president of YPF pointed out that this agreement is a strategic advance to consolidate Argentina as a key player in the global energy market. “We are convinced that our country has the capacity to become an important energy exporter, generating income for 30 billion dollars in the next decade“he stated. In addition, Marín thanked the support of the Argentine diplomatic team in India, which played a key role in concluding the agreement.
Argentina LNG project details
The gas that will be exported to India is part of the project Argentina LNGwhich includes gas production in Vaca Muerta (one of the most important shale reserves in the world), dedicated transport through gas pipelines, specialized, and processing terminal in Río Negrowhich includes offshore and onshore infrastructure for gas liquefaction.
The initiative not only represents a step forward in the expansion of the energy sector, but also reinforces Argentina’s competitiveness in the global market.
The Indian companies that participated in the agreement are leaders in the energy sector in the region. These are GAIL (a leader in gas infrastructure in India, operating more than 16,000 kilometers of gas pipelines and managing LNG contracts in the country), OIL (third largest oil producer in India, with more than six decades of experience), OVL (subsidiary of the state ONGC, operates in 17 countries and contributes about 15% of Indian oil production).
Global projection
The MOU with India marks the closing of an international tour by YPF that included visits to Israel, South Korea and Japan, in search of new markets for the resources of Dead Cow. This agreement not only strengthens Argentina’s leadership in energy exports, but also lays the foundations for future collaborations in key sectors such as lithium, in which both countries see great strategic opportunities.
With this step, Argentina reinforces its place as a supplier on the world energy stage, highlighting YPF’s role in the transition towards a more sustainable and globalized economy.
Source: Ambito
