Ypf News

Excelerate Energy’s floating storage and regasification unit (FSRU) the Exemplar has begun operations in Bahia Blanca, a port city located 400 miles south of the Argentine capital Buenos Aires.The Exemplar, with a storage capacity of 150,900 m3, will deliver liquefied natural gas (LNG) for the 2021 winter season in Argentina, providing reliability and stability to the country’s energy system despite operating in the challenging conditions of the South Atlantic.“We are excited…

Belgium-based shipowner Exmar has settled a dispute over the charter of the Tango FLNG with Argentinian energy firm YPF, that will see the FLNG charter terminated in exchange for a settlement fee.To remind, YPF in June sent a force majeure notice to Exmar, saying it was not able to pay for the charter of the Tango FLNG unit due to the effect of the coronavirus pandemic. Exmar at the time said the notice was unlawful, adding it was considering the best option to defend its interest.On Monday, Exmar said it had reached a settlement agreement with YPF S.A.

Argentinian energy company YPF has sent a force majeure notice to Belgium shipowner Exmar, saying it is unable to pay for the charter of the Tango FLNG unit due to the effect of the coronavirus pandemic.According to Exmar, YPF claims that effects of the coronavirus pandemic both worldwide and in Argentina have hindered YPF's ability to perform its obligations under the Tango FLNG agreements. This includes but is not limited YPF's ability to pay the invoices due for services performed for the period starting the second half of March 2020.

Belgium-headquartered manager of specialized floating assets Exmar said that China Export Credit Insurance Corporation (Sinosure) approved the release of $40 million from the debt service reserve account under the TANGO FLNG loan facility.The documentation for the release of the restricted cash has been signed and the effective release will occur within the coming days.In the meantime the TANGO FLNG has exported its second cargo for YPF in December 2019 and the third cargo is being produced.Exmar has two Very Large Gas Carriers under construction at Jiangnan, due for delivery in the course of 2021.The two vessels will each enter a five…

Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday.Argentina's export joins a wave of new supply flooding the spot market which has depressed Asian spot prices to their lowest in a decade for this time of the year.The state-owned firm issued a tender which closed on Nov. 6 to sell 2.1 trillion British thermal unit (Tbtu) of LNG for loading from FLNG Tango, the liquefaction vessel off Bahia Blanca…

Norwegian multinational energy company Equinor ASA and Argentine power producer YPF Luz have joined for the development of the Cañadón León wind farm in Santa Cruz in Argentina.As per agreement, a subsidiary of Equinor will subscribe to shares in Luz del León. The shareholders of YPF Luz are YPF S.A and an affiliate of General Electric.The agreement establishes that Equinor will have a 50% stake of Luz del León, with an equity contribution of USD 30 million. After the subscription and capital integration, YPF Luz and Equinor will jointly control Luz del León, while YPF Luz will be in charge of the operations of the Cañadón León Wind Farm project.After the completion of the works…

Argentine oil company YPF reached a preliminary agreement with Texas-based Excelerate Energy to hire a liquefied natural gas (LNG) tanker for shipping cargoes to global export markets.As per agreement, YPF will export LNG produced from the TANGO FLNG unit, located in Bahía Blanca.Both parties will be executing the final agreement in the coming days, with the objective of starting operations the first week of September.“We continue progressing in our ambition to add value to Argentine natural gas and to export surpluses during those months of low local consumption, to fully extract the potential as producer and exporter of Argentine natural gas…

American multinational engineering company McDermott International announced it has been awarded a contract by Argentina-based YPF to provide pre-front-end engineering design (Pre-FEED) services for a five million tons per annum (MTPA) LNG Liquefaction Facility, with a potential expansion to 10 MTPA, at the Vaca Muerta Shale field in Argentina.The scope of work is a continuation of a previous conceptual study developed for the YPF LNG Export Facility in Argentina under a contract in 2018.McDermott's London office will provide engineering services while the Houston office will perform project management and estimation services."The award of this Pre-FEED project is a testimony of McDermott's technical expertise in LNG and our successful partnership with YPF over the years…

Belgian owner and operator of gas carriers Exmar has completed the commissioning of the 16,100 cbm Tango floating liquefaction unit (FLNG).The performance acceptance tests has been successful, the first cargo has been offloaded and will be exported out of Argentina, said a release from the provider of specialized floating assets.With this first shipment the start-up of the Tango FLNG is accomplished in a record time following the contract signing in November 2018 and delivery acceptance of the unit in Bahia Blanca in February 2019. The achievement of this milestone has been possible thanks to the excellent cooperation between the teams of  Argentina's YPF and Exmar.For YPF…

Belgian shipowner Exmar said its first floating LNG (FLNG) production unit Tango FLNG, to be renamed Tango FLNG, has berthed in Bahia Blanca, Argentina.The Nicolas Saverys-led shipowner said in a press release that the Caribbean FLNG will stay in Bahia Blanca and produce LNG for export for YPF over a ten-year period.After contract signing in November 2018, the unit was transported from China to Argentina onboard a heavy lift vessel.The next major project milestone will involve outfitting and commissioning the unit. Departure of the first fully-loaded conventional LNG carrier is expected in the second quarter of 2019.Tango FLNG is the first project using Exmar’s FLNG technology and will soon become the first FLNG to produce LNG in the Americas.

Belgium based EXMAR announced Thursday that its floating liquefied natural gas (FLNG) facility has left China for a 45-day voyage to the destination of its liquefaction operations at the Port of Bahia Blanca in Argentina.The barge-based Tango FLNG (previously named Caribbean FLNG) is on the move just one month after a contract was signed for a firm, 10-year deployment.Upon its arrival, the facility will be put in operation for EXMAR’s customer YPF S.A. and is expected to start up LNG production in the second quarter of 2019.

Belgium's Exmar and YPF of Argentina announced the signing of a firm, ten-year agreement to deploy Exmar’s barge-based floating LNG liquefaction unit (FLNG) currently known as Caribbean FLNG to produce and export LNG from the Vaca Muerta source at the Neuquén Basin in Argentina.The project marks the entry of Argentina to the select club of global LNG exporting nations, with an initial plan to export 500,000 tons of LNG per year to overseas markets.Exmar’s FLNG barge will be named Tango FLNG and be deployed to the port of Bahia Blanca. This will mark the beginning of a close, joint commercial relationship that will transform the country's…

Argentina's oil producers have shipped record volumes of crude this month, spurred by a new government subsidy that has also prompted state-owned oil company YPF to return to the export market for the first time in years. The surge in shipments abroad comes just a month after Argentina's new president, Mauricio Macri, introduced measures to help oil exporters as part of sweeping policy changes aimed at boosting investment and opening the South American nation's economy after years of heavy controls on trade. Exports are expected to reach a record 91,000 barrels per day (bpd) of crude in April, including two cargoes sold by YPF to China and barrels shipped by private producers, according to a source.

Asian spot prices for liquefied natural gas (LNG) extended their fall this week on slack demand, although production issues in Australia helped stem losses. LNG for May delivery in Asia traded at around $4.20 per million British thermal units (mmBtu), compared with $4.30 per mmBtu last week. LNG for June delivery was lower at around $4.00 per mmBtu. Mechanical problems at Australia's Gorgon LNG export terminal are expected to halt production for 30 to 60 days, a development which traders said had helped stop prices sliding further this week. "The impact is that the market hasn't come down quicker," a trader said. On the shipping side, however, it had contributed to a glut in tankers.

Asian spot prices for liquefied natural gas (LNG) slid for the third straight week, as pressure mounted from new Australian and U.S. supplies, traders said. LNG for April delivery in Asia eased to $4.30 per million British thermal units (mmBtu), down 20 cents from the previous week. Traders said they expected prices to fall below $4 during the summer as supply continues to pick up from new projects. "There's a bit of a squeeze going on from both sides of the world so prices are only going to go one way until things start to stabilise," said a trader. Cheniere Energy expects to export eight to 10 more cargoes of LNG in the next two months out of its newly commissioned Sabine Pass terminal.

Asian spot liquefied natural gas (LNG) prices extended losses for a third week, as weak demand gave little support, with more supply beginning to flow from the United States and Australia. LNG prices for April delivery in Asia eased to $4.50 per million British thermal units (mmBtu), down 30 cents from the previous week. Gail India's purchase tender for three cargoes spread across March and April closed with the April cargo fetching a price in the mid-$4 per mmBtu range, traders said. Four cargoes offered by Indonesia's Bontang liquefaction plant will go to trading house Vitol, two international oil companies and possibly a Japanese player pending government approvals, several industry sources said. Argentina's state-run LNG buyer YPF is expected to tender for supply in coming weeks.

Asian liquefied natural gas (LNG) spot prices for September delivery were higher on Friday supported by nearby demand from new importers including Jordan and Pakistan, traders said. The price of Asian spot cargoes rose to $8.10 per million British thermal units (mmBtu), from $7.80 the previous week. "(It's) just unexpected demand with very short lead times," said a trader. Jordan is expected to announce results of a tender for two cargoes for delivery in early September on July 29, while Pakistan has held several tenders to buy at short notice. Other activity which supported prices included Argentina's YPF purchasing five LNG cargoes on behalf of state-run energy firm Enarsa following its recent tender, to be supplied by Statoil, Trafigura and BP.

Uruguay is considering extending the length of its oil exploration contracts with foreign companies drilling in its waters in order to shore up investment at a time of plunging crude prices, it said on Wednesday. BP, BG Group, Total, a joint venture of Tullow Oil and Inpex, and a consortium of YPF, Royal Dutch Shell and Galp all have exploration agreements with the South American country and have invested around $2 billion to date. But the recent fall in oil prices has made exploration in Uruguay unattractive, Hector de Santa Ana, exploration manager at state oil and gas company Ancap, said in an interview. "The (current) prices don't tally with any kind of prospect on our maritime shelf," he said.

Argentina's state-controlled YPF has bought at least five cargoes of liquefied natural gas (LNG) for delivery between April and June, traders said on Friday. Suppliers included Shell, EDF Trading, Petrobras, BP and Excelerate, traders said. The purchases were the result of a tender by YPF last week to buy 11 shipments of LNG to partially cover its southern hemisphere winter needs. Sales prices for the cargoes, which will be split between Argentina's two import terminals, achieved at least a $1 per million British thermal units (mmBtu) premium to Britain's National Balancing Point (NBP) gas hub price, traders said. The UK gas price for April was trading at $6.74 per mmBtu on Friday, with May and June lower. Reporting by Sarah McFarlane and Oleg Vukmanovic

Asian spot liquefied natural gas (LNG) prices were steady on Friday, as end users remained mostly well-stocked and in no rush to buy, traders said. The price of spot LNG for April delivery was unchanged on the week at $7.75 per million British thermal units (mmBtu), while prices for May delivery were in the low $7s. Some fresh demand offered support to the global market with Argentina's state-controlled YPF tendering to buy 11 shipments of LNG including six full cargoes and five partial cargoes. Traders have been expecting a tender from Argentina for some months, after YPF delayed it from September last year due to ample supply and low demand. Elsewhere there was limited activity, as the focus shifted to May from April.

Argentina's state-controlled YPF is tendering to buy 11 shipments of liquefied natural gas (LNG), traders said on Thursday.   The traders said the tender includes six full cargoes and five partial cargoes of LNG with a shipping period between April and June.   The tender is due to close on March 17.   Traders have been expecting a tender from Argentina for some months, after YPF delayed it from September last year due to ample supply and low demand.   The partial cargoes are expected to go to YPF's river terminal at Escobar, due to its shallow water depths, while the full cargoes are likely to go to the Bahia Blanca terminal.     (Reporting by Oleg Vukmanovic and Sarah McFarlane; editing by Susan Thomas and David Evans)

Inchcape Shipping Services is issuing guidance about new towage regulations affecting the port of San Lorenzo in Argentina. Effective from 15 December, and in accordance with local Coast Guard regulation PZBP R17 N° 07/14, all vessels mooring at the terminals Axion, Chacabuco (YPF), Nidera, Tránsito, Pampa and Dempa will have to use tug boats for their departure. This will apply to maneuvers and to proceed with navigation either upriver, or to turn downstream. Please note that vessels with LOA up to 160 metres are exempted, for an LOA between 160m and 210m vessels will be required to use one tugboat, and vessels with LOA over 210 meters will be required to use two tugboats. Customers are invited to contact ISS Argentina directly for further details [email protected]

Argentina's state oil company YPF agreed Friday to extend its operation until 2027 in partnership with a local unit of China's Sinopec oil in an area of ​​a province in the center-west of the country, which represent an investment of $ 300 million, the company said in a statement. The new agreement between the two firms, whose contract expired working together in late 2016, provides for a change in the participation of society, with 70 percent by YPF and 30 percent for Sinopec Argentina versus ratio prior 60-40. It is the exploration and development in the productive area La Ventana, located in the province of Mendoza Argentina and has an area of ​​480 square kilometers. The area currently produces about 6,000 barrels a day.