Multi-Billion Dollar Deals Set to Rock Global Market!

Multi-Billion Dollar Deals Set to Rock Global Market!

While global demand for energy sources is on the rise, Argentina is increasingly relying on its rich natural gas reserves. The South American country aims to become a significant producer and supplier of liquefied natural gas (LNG). Argentina is particularly targeting Asian markets for its LNG exports.

The Argentine energy company YPF recently signed contracts with several Asian states, made possible by a 20-day working trip of the company’s CEO, Horacio Marín. During this Asia tour, he agreed to supply up to 15 million tons of LNG, with the contracts valued at seven billion US dollars per year.

The head of the cabinet, Guillermo Francos, met with Marín on Tuesday and expressed great enthusiasm about the opening of the Asian market for LNG deliveries from Argentina. On the X platform, he announced further contracts with European countries, which are expected to be finalized in the coming weeks. The minister estimated the volume of these contracts to be up to four million tons of LNG. Francos concluded by saying, “Argentina’s energy future is unstoppable!”

According to local press, YPF signed delivery contracts with the Indian energy companies Oil and Natural Gas Corporation (OIL), Gas Authority of India Limited (GAIL) and Oil and Natural Gas Corporation Videsh Limited (OVL) last week. These Indian energy companies are expected to be supplied with natural gas from the Vaca Muerta deposit in the western part of the South American country. A memorandum also mentioned the extraction of lithium in the context of this development, leading to a more than 150 percent increase in YPF’s stock.