Argentina has already signed Its first contract to export liquefied natural gas to Europe. Southern Energy (SESA), made up of the country’s major producers, agreed Supplying a German government company for eight years.
The contract has been closed with Securing Energy for Europe (SEFE) It includes saving 2 million tons annually (MTPA), equivalent to 9 million cubic meters per day (m³/d). This volume represents 80% of the capacity of the first liquefaction vessel The one arriving in the country, Heli Episio, will begin operating in September 2027.
SESA was created by Pan American Energy (PAE) and Golar LNG, the company that owns the vessels that cool the gas to -162 degrees to reduce its volume 600 times and turn it into a liquid state. The contribution was distributed among: PAE (30%), Golar LNG (10%), YPF (25%), Pampa Energía (20%), Harbor Energy (15%)..
According to the company Exports could exceed US$7 billion during the contract periodThis depends on the development of the global price of liquefied natural gas. This would bring foreign currency into the country and enhance Europe’s energy security.
he Hailey EbisiuCurrently located in Kribi, Cameroon, it will arrive in Argentina at the beginning of 2027. It will be able to produce 2.45 million tons per year of liquefied natural gas, equivalent to 11.5 million cubic meters per day of gas. The second ship is called MKIIis under construction in China and will arrive in 2028. It will begin commercial operation at the end of the same year and will provide an additional capacity of 3.5 million tons per year (about 16 million cubic meters per day).
Together, both ships will allow the production of 6 million tons per year of LNG. contract with SEFE guarantees the purchase of more than 30% of that capacity total.
Companies plan to invest more than… 3.2 billion US dollars For the first phase of the project (2024-2031) and approx 2.8 billion US dollars For the second (2032-2035). In total, The expected investment is 6 billion US dollars. Over its 20-year useful life, the accumulated investment will exceed US$15,000 million across the value chain, which will also enable the development of new projects in Vaca Muerta.
With both ships commissioned within three years from Argentina It will have the capacity to export 27 million cubic meters per day of natural gasThis is equivalent to 18% of the current winter production (150 million m3/d).
The agreement was signed by Rodolfo Freire, President of SESA, and Frederic Barnouw, Chief Financial Officer of SEFE. Marcos Bulgeroni (PAE), Santiago Martinez Tanuera (YPF), Horacio Torre (Pampa Energia), Martin Rueda (Harbor Energy) and Federico Petersen (Goular LNG) also participated.
“SEFE’s first LNG agreement with a South American supplier not only contributes to the geographical diversification of our portfolio, but also strengthens Europe’s energy security. We are pleased to accompany Argentina on its path to becoming a global LNG exporter. “This also provides SEFE with a valuable opportunity to continue its collaboration with the Hilli Episeyo team as it moves from Cameroon to Argentina,” Barnou said.
Although the final value of exports will depend on the international price, It is estimated that between 2027 and 2035 foreign sales will exceed US$20 billion.
The two ships will be placed in San Matias Baybetween Sierra Grande and San Antonio Oeste, on the Rio Negro, where an oil export terminal will also be built.
“It will constitute the agreement signed with SEFE The first large-scale sale of LNG from Argentina It represents a milestone for the future development of Vaca Muerta’s natural gas reserves. “We are proud to take this first step into the global LNG market with an internationally recognized player like SEFE,” said Rodolfo Freire, of SESE.