BUENOS AIRES – YPF, Spanish oil major Repsol-YPF’s Argentine unit, plans to invest $200 million to build a liquefied natural gas terminal and regasification plant in the Argentine port city of Bahia Blanca, company spokespersons said Wednesday.
The plant, scheduled to come online in March 2013, will feed between 14-20 million cubic meters (490-705 million cubic feet) per day of re-gasified imported LNG into the national gas pipeline network via a connection with distributor Transportadora de Gas del Sur, they said.
In a second stage, the supply of gas will increase to as much as 25 million cmd (880 million cfd).
YPF, in which Repsol holds a 57.43 percent stake while Argentina’s Grupo Petersen has another 25.46 percent, will carry out this project as a joint venture with state-owned Empresa Nacional de Energia, or Enarsa.
Most of Argentina’s grain exports are shipped from the Atlantic port of Bahia Blanca, which is located some 800 kilometers (500 miles) south of Buenos Aires and home to the country’s biggest petrochemical hub.
Over the past decade, Argentina’s growing natural gas demand has led to chronic supply shortages during times of high consumption and shortened its reserve horizon to roughly nine years.
The country is dealing with the shortfall by increasing gas imports from Bolivia and reducing exports of the fuel to neighboring Chile and Uruguay. EFE