Gazprom and YPF discuss possible gas developments in Argentina
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Miguel Galuccio, Chief Executive Officer of Argentine National Petroleum Company YPF.
The parties addressed the prospects for expanding the bilateral cooperation in the gas sector. In particular, they looked at the possibility of undertaking joint projects in such areas as exploration & development in Argentina.
In addition, the meeting participants discussed the arrangement of LNG supply from Gazprom Group's portfolio to the Republic as well as expressed their views on the joint development of the Argentine NGV market.
The meeting also paid attention to the sci-tech cooperation between the two companies, experience sharing and personnel training.
Argentine National Petroleum Company YPF is engaged in oil & natural gas exploration, transmission and sales as well as manages the bulk of the gas production and wholesale marketing business.
Argentina's proven natural gas and oil reserves average 300 billion cubic meters and 300 million tons accordingly. In 2013 Argentina produced nearly 35.5 billion cubic meters of natural gas and 30.5 million tons of oil and consumed 48 billion cubic meters and 29.4 million tons accordingly.
In 2013 Gazprom Marketing & Trading won an international tender for the supply of 15 LNG cargoes with a total volume of one million tons from Gazprom Group's portfolio to Argentina between 2014 and 2015.