Argentina Approves Funding for YPF’s Vaca Muerta Pipeline
(Reuters) — Argentina has allowed state oil firm YPF to join a stimulus program unlocking government funds for a pipeline project from the massive Vaca Muerta shale formation to a port in the Patagonian province of Rio Negro, Economy Minister Luis Caputo said on Friday.
The project is estimated to cost nearly $3 billion. Once it is up and running, it should pump more than $15 billion in oil exports a year, Caputo said in a post on X.
YPF is developing the project along with partners such as Shell, Chevron, Vista and Pan American Energy. The group applied for the government stimulus - part of a program by President Javier Milei to attract large investments in the country and turn around the flagging economy - last year.
Argentina hopes to cement its status as a net energy exporter through Vaca Muerta, the world's second largest shale gas reserve and fourth largest for shale oil.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
Comments