US EditionArgentina's YPF swings to net loss in Q1 on growing debt, costs
- On May 8, YPF and Golar LNG announced a 20-year charter agreement for the FLNG Hilli Episeyo off Argentina, starting in 2027.
- This charter follows earlier agreements and marks progress in the Argentina LNG project's first phase involving multiple stakeholders including YPF and Pan American Energy.
- Additionally, YPF collaborates with Shell on the second 10 mtpa LNG project phase, currently in FEED, and with Eni on a third phase involving two 6 mtpa FLNG units.
- Marin said FID decisions for the second FLNG MKII and the second and third phases are expected between 2025 and end of 2025, pending regulatory approvals and FEED completion.
- These initiatives seek to increase Argentina's LNG production capacity to approximately 30 mtpa and develop dedicated infrastructure, including a fully committed pipeline transporting gas from Vaca Muerta to the Rio Negro region.
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Argentina's YPF swings to net loss in Q1 on growing debt, costs
Argentine state oil company YPF sank into the red in the first quarter, it reported on Wednesday, swinging to a net profit loss of $10 million, hurt by higher costs and capital expenditures and rising debt.
YPF CEO: FID on second Argentina FLNG expected by July
Marin revealed this during YPF’s first-quarter earnings call on May 8. Earlier this month, Golar LNG announced the decision and fulfillment of all conditions precedent for the 20-year re-deployment charter of the FLNG Hilli Episeyo, first announced in July 2024. FLNG Hilli, with a nameplate capacity of 2.45 mtpa, is expected to start its contract in 2027. The vessel will be chartered to Southern Energy (SESA), offshore Argentina. SESA’s sharehol…
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