Argentina's Pampa Energia Joins LNG Export Venture Aiming for 11.5 Million Cubic Meters Daily
(Reuters) — Argentina's Pampa Energia said on Friday it has joined Pan American Energy and Golar on a project to export liquefied natural gas (LNG) out of the South American nation.
Pampa Energia will hold a 20% stake in Southern Energy, the LNG joint venture from Pan American Energy and Golar, the company added in a statement.
"We consider it a very important project for the country to become a world exporter of liquefied natural gas," Pampa Energia CEO Gustavo Mariani said in the release.
The project aims to export 11.5 million cubic meters of LNG per day and is set to require a $2.9 billion investment over the next 10 years.
Pampa Energia said it has pledged to supply 22.2% of those volumes from its fields in the Neuquen basin, home of the massive Vaca Muerta shale formation.
Argentine state-owned energy company YPF is also set to join the export project, according to a recent comment by its head Horacio Marin on LinkedIn.
"We are joining this initiative which marks a milestone in our country's energy industry and represents a significant step to advance our Argentina LNG project," Marin wrote in a post.
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