YPF Hires Excelerate LNGC
Argentina’s YPF has signed a preliminary deal to hire an LNG carrier from US-based Excelerate Energy to serve at the Tango floating LNG project, the state company said on July 25.
The two sides aim to reach a finalised charter agreement within the coming days, with the 138,000-m3 LNG carrier due to start operating in the first week of September. It will be used to ship cargo from the Tango facility in Bahia Blanca to global gas markets until May 2020.
The 500,000-m3 Tango terminal was launched in May, marking YPF’s foray into LNG production. It exports gas produced in Argentina’s prolific Vaca Muerta shale basin. As its gas output continues to rise, Argentina is poised to become an emerging source of gas supply to Asia during peak demand periods, according to Edinburgh-based Wood Mackenzie.