PETRONAS signed a Memorandum of Understanding (MoU) with Argentina’s largest integrated oil and gas company, YPF to pursue collaboration in Argentina in an integrated LNG project and other areas, including upstream oil, petrochemicals and clean energy solutions.

The MoU was formalised by PETRONAS President and Group Chief Executive Officer, Datuk Tengku Muhammad Taufik and YPF Chairman and President, Pablo Gonzalez. Also present were senior management from PETRONAS and YPF.

In addition to the MoU, YPF and PETRONAS’ operating entity in Argentina, PETRONAS E&P Argentina S.A. executed a Joint Study and Development Agreement (JSDA) towards the study and potential development of the Argentina Integrated LNG project which will encompass dedicated upstream gas production, dedicated pipeline and infrastructure development, LNG production as well as marketing and shipping.

The Final Investment Decision for the projects will be undertaken after diligent technical and commercial assessment has been conducted, backed by conducive fiscal terms, legislation and policies.

Datuk Tengku Taufik said, “PETRONAS is focused on expanding and diversifying our integrated opportunities to capture key markets. This collaboration signifies a continued aspiration to achieve shared business growth, as well as in providing sustainable and cleaner energy solutions.

“PETRONAS’ expertise in integrated LNG and unconventional plays will add value to the intent and synergy of both parties in further exploring potential LNG opportunities in Argentina, leveraging on Vaca Muerta’s vast unconventional gas resources,” he added.

PETRONAS’ strategic alliance with YPF began in 2014 through its partnership in the La Amarga Chica project, Vaca Muerta, as part of its growth aspiration in the Americas.

About Petronas

Established in 1974, Petroliam Nasional Berhad (PETRONAS) is a global energy and solutions company, ranked amongst the largest corporations on Fortune Global 500®️. As an integrated global LNG producer with over 37 years of experience, PETRONAS provides an uninterrupted supply of LNG to more than 25 countries around the world. PETRONAS has safely delivered more than 11,000 cargoes globally, sourced from its portfolio of facilities located in Malaysia, Australia and Egypt. PETRONAS is also the first global energy player to introduce the floating LNG concept in 2016, the PFLNG SATU, and introduced its deep-water FLNG, the PFLNG DUA, in 2021.

About YPF

YPF is the main energy company in Argentina, with a share in the production of oil and gas of 43% in the local market and 56% in naphtha. YPF is leader in the production of unconventional resources. It is an integrated energy company that generates a varied offer: natural gas, electricity, fuels, petrochemical inputs, lubricants and agro products, among others. It has more than 1500 gas stations that allow the supply the country.