Argentina's state-run oil firm YPF has ruled out building an onshore natural gas liquefaction plant, opting instead to rely on floating vessels for this process, YPF's chief executive said in an interview with local media.
In the interview with Diario Río Negro, CEO Horacio Marín said there would be no onshore plant, and that the three phases in its plan to export LNG would be carried out through ships.
"The time frames are much faster than for a land-based plant, and they're all turnkey projects, so you know exactly what they will cost," Marín said.
Under the Southern Energy Project, YPF and other oil firms are planning to start up Argentina's first liquefaction vessel by 2027, with a capacity of 11.5 million cubic meters per day, and to add another vessel the following year.
The company has also signed a deal with Shell, under which the oil major will participate in the production, liquefaction, and sale of LNG.
YPF recently signed a memorandum of understanding with Italy's Eni to develop upstream LNG facilities, including transport to two floating liquefaction units with a combined capacity of around 6 million metric tons per year.
