Argentina’s YPF (NYSE:YPF) and Malaysia’s Petronas plan to search for companions to assist construct a $10B liquefaction terminal and associated infrastructure, a key for elevating manufacturing from the Vaca Muerta shale play, S&P World Platts reported Tuesday.
The 2 state-backed corporations will search companions for constructing and financing the plant in modules, serving to to stretch out the capital necessities, in accordance with the report.
A key for shifting ahead with the undertaking reportedly is the approval of a invoice designed to advertise funding in LNG export infrastructure; if the invoice is authorized, YPF (YPF) and Petronas would signal a contract for the undertaking and start to rearrange companions, together with for supplying gasoline for export, S&P World Platts mentioned.
The businesses signed a memorandum of understanding for the undertaking in September, saying they might goal 25M metric tons/yr of LNG exports in 10 years.
Vaca Muerta is the world’s second largest shale gasoline reserve and fourth largest shale oil reserve; YPF (YPF) and Petronas have labored collectively up to now to develop shale oil within the block.