$80 Brent and a steady demand for petroleum products has prompted YPF, one of the main operators of Argentina’s Vaca Loca shale to boost oil and gas production
on what could become a $60-billion project that will see Argentina become, among other things, an exporter of liquefied natural gas. The five-phase project will encompass the whole process from production to transportation to liquefaction.
The Petronas LNG plans were announced at last week's CERAWeeek conference, where YPF's chief executive, Pablo Iuliano, also said that the company is about to make a final investment decision on an oil pipeline project that would end in an export terminal for crude oil capable of servicing supertankers.
YPF is"in a good position to continue the acceleration of the monetization of Vaca Muerta resources," the chief financial officer of the company, Alejandro Lew, told media earlier this month at an event celebrating YPF's 30-year history of trading on the New York Stock Exchange. Although, according to some, this demand will last for decades to come, monetizing new resources sooner rather than later could have beneficial effects not just on the supplier but on consuming countries as well, giving them a new source of non-OPEC crude.in the form of capital expenditure. Around half, or $2.3 billion, of that will be poured into the Vaca Muerta.
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