YPF, Shell sign PDA for first phase of Argentina LNG project

YPF (YPF) President and CEO Horacio Marin, and Shell’s (SHEL) Executive Vice President of LNG, Cederic Cremers, announced that they have signed a project development agreement, or PDA, for the development of Argentina’s LNG Project in The Hague, Netherlands. The PDA means that Shell will join the project. The parties have committed to mature the development of the first phase of the Argentina LNG project towards a decision to enter the Front-End Engineering and Design stage, they said. The first phase has a liquefaction capacity of 10 million tons per year. “We are proud to have Shell, with its world leading LNG business, join the project. As a pioneer in the LNG market, Shell’s knowledge and experience will be instrumental in helping position Argentina as a reliable and competitive global energy provider,” said the president of YPF. With Shell entering into the development of the first phase of the ARG LNG Project, Petronas’ (PECGF) participation as a partner of YPF has come to an end. Both will continue working on the development of the La Amarga Chica area in Vaca Muerta.