2023-06-27 19:22:40
After a long wait, the bill for the promotion of the production of Liquefied Natural Gas (LNG) will be debated in Congress and the CEO of the state majority oil company YPF, Pablo Iuliano, was invited to present the vision of the company. Last year, YPF had signed a memorandum of understanding with the Malaysian Petronas to develop an LNG plant.
Treatment at the Fuel and Energy Commission is the first step. Once dispatched, it will be dealt with by the Budget and Finance Committee before being transferred to the Chamber to receive the half penalty.
The YPF and Petronas project are planning a multi-million dollar investment for the construction of the liquefaction plant that requires a legal framework to make it viable. Once installed, they project that Argentina will export LNG to the region, to Europe and Asia by ships. He project is 10 years with investments that would start at 10,000 million pesos and could reach 40,000 million dollars.
Iuliano participates in the treatment of the project raises expectations for the development of the LNG plant. The CEO had met with the national deputy and governor-elect of Neuquén, Rolando Figueroa, who presented a request to advance the treatment of the bill in the commission.
“Hand in hand with the sale of gas we would go to another scale and we could generate an energy surplus in the import substitution processwhich would generate a positive balance of 20,000 million dollars for the Argentines in the balance of payment in the coming years,” said Figueroa.
Establishing a regulatory framework in the country will allow “not only meet domestic demandbut it will also generate balances to be exported through the LNG industry value chain, among others, which will cause the consequent income of foreign currency for the country”, says the writing of the bill.
“The world is increasingly requiring energy and, in particular, liquefied natural gas is presented as an intermediary fuel for the global energy transition,” the text states. Title 1 of the project seeks to declare the national public interest and as a priority objective the natural gas liquefaction destined for the export of LNG.
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