BUENOS AIRES (Reuters) – Argentina’s state-run oil company YPF signed a memorandum of understanding with three Indian firms to potentially export up to 10 million metric tons of liquefied natural gas (LNG) per year, the company said on Tuesday.
YPF Chief Executive Horacio Marin inked the deal in New Delhi with executives from Oil and Natural Gas Corporation (OIL), Gas Authority of India Limited (GAIL) and Oil and Natural Gas Corporation Videsh Limited.
The agreement also covers cooperation in lithium, critical minerals, and hydrocarbon exploration and production, YPF said in a statement.
“We are convinced that the country has an opportunity to become an energy exporter and achieve the objective sought by the entire industry to generate revenues of $30 billion over the next 10 years,” Marin said.
The executive has also visited Israel, South Korea and Japan to seek buyers for LNG from Vaca Muerta, the world’s second-largest shale gas reserve.
Reuters reported in December, citing a company source, that Marin was set to travel to India this month to sign the preliminary LNG export deal.
(Reporting by Eliana Raszewski)
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