Petronas, YPF plan energy projects in Argentina
Malaysian energy company Petronas has signed a memorandum of understanding (MoU) with YPF to pursue collaboration in Argentina in an integrated LNG project and other areas, including upstream oil, petrochemicals and clean energy solutions, it said on September 1.
In addition to the MoU, Petronas’ Argentine subsidiary executed a joint study and development agreement with YPF towards the study and potential development of Argentina integrated LNG project which will encompass dedicated upstream gas production, dedicated pipeline and infrastructure development, LNG production as well as marketing and shipping.
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The final investment decision for the projects will be undertaken after a technical and commercial assessment has been conducted, backed by conducive fiscal terms, legislation and policies, Petronas said.
“Petronas is focused on expanding and diversifying our integrated opportunities to capture key markets. This collaboration signifies a continued aspiration to achieve shared business growth, as well as in providing sustainable and cleaner energy solutions,” Petronas CEO Tengku Muhammad Taufik said.
“Petronas’ expertise in integrated LNG and unconventional plays will add value to the intent and synergy of both parties in further exploring potential LNG opportunities in Argentina, leveraging on Vaca Muerta’s vast unconventional gas resources,” he added.