Energy company YPF has commenced loading the first shipment for export of liquefied natural gas (LNG) from Argentina.
This shipment will be ready this week and consists of 30,000m³ (1.06Mmcf) of LNG from the Vaca Muerta shale play, reported Reuters.
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Vaca Muerta has abundant gas reserve and non-conventional oil reserve.
The development of the Vaca Muerta geological formation makes YPF an unconventional producer of hydrocarbons in Latin America.
YPF gas and electric power executive vice-president Marcos Browne was quoted by Reuters as saying: “This is the first step of a process that YPF is leading to export and expand gas markets to the world.”
The LNG export is expected to create revenues of approximately $200m per annum for the firm. This amount represents 10% of its total fuel and energy exports, reported Reuters.
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By GlobalDataAlthough YPF did not disclose the destination of the shipment, it added the sales operation of this destination was in handled by US liquefied natural gas company Cheniere Energy.
Argentina aims to become one of the few countries to export leftover LNG during summer months when demand is lower. Most of the gas produced by the country comes from Vaca Muerta play.
Based in Argentina, YPF is an explorer and producer of oil and gas and renewable power drawn from sources such as wind, sun, land, water.
