Excelerate to supply LNG carrier to Argentina's YPF

Argentina’s YPF announced today a preliminary agreement was reached with Excelerate for the charter of a LNG carrier. The carrier will export LNG produced from the Tango FLNG unit, located in Bahía Blanca, to the global natural gas market. Tango FLNG is designed to operate with a liquefaction capacity of approximately 0.5 million tons of LNG per year

Both parties will be executing the final agreement in the coming days, with the objective of starting operations the first week of September.

"We continue progressing in our ambition to add value to Argentine natural gas and to export surpluses during those months of low local consumption, to fully extract the potential as producer and exporter of Argentine natural gas," said Marcos Browne, Executive Vice President of Gas and Energy of YPF.

The natural gas, produced mainly from Vaca Muerta, will be processed by the TANGO FLNG unit at the port in Bahía Blanca. It will be transported by the LNG carrier Excalibur, which has a storage capacity of 138,000 m3. The Excalibur will be in the service to YPF until May 2020. It will be one of two ships that YPF will utilize to transport Argentine LNG to the global market.

YPF commissioned its first cargo in May, achieving a historic milestone, becoming the first Argentine company to export LNG in its history.