YPF authorised to export to Chile

Argentina

BUENOS AIRES, December 28, 2017 – Argentina’s Ministry of Energy and Mining on Wednesday granted state-owned YPF permission to export natural gas to neighbouring Chile.

The NOC is authorised to supply 1 mcm (35.3 mcf) of gas per day to methanol producer Methanex. The first batch should be exported within the next six months, and exports can continue until September 30, 2018, or until total gas exports amount to 115 mcm (4.06 bcf). YPF will have 12 months to reimport an equal volume of gas from Chile.

The agreement can be halted or cancelled if Argentina requires more stable gas supplies to meet demand fluctuations.

The ministry’s approval of the deal comes a day after it granted ExxonMobil permission to enter into a gas swap arrangement with Chile’s Innergy Holdings for up to 30,000 cubic metres (1.06 mcf) per day.

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