Argentina's YPF Joins Venture to Boost Shale Gas, LNG Exports

Nov 25, 2024, 02:29 PM

Argentina's state-run energy company YPF is set to join a joint venture with Pan American Energy and liquefied natural gas (LNG) shipper Golar. The collaboration aims to boost shale gas production and aligns with Argentina's broader strategy to expand its LNG exports. YPF, which operates in the massive Vaca Muerta shale formation—home to the world's fourth-largest shale oil reserves—expects to increase its shale oil production by 30-40% next year, targeting an average of approximately 160,000 barrels per day in the first quarter. The company is also focusing its capital investments on its primary shale assets. The expansion of shale operations will require current suppliers to triple their capacity in the coming years.