Belgium’s Exmar, the Nicolas Saverys-led shipowner, has secured deployment for its Caribbean FLNG set to be put in service at the Argentinian Port of Bahia Blanca during the second quarter of 2019.
Under the contract Exmar signed with Argentina’s YPF, the FLNG will be redeployed as Tango FLNG for a 10-year term to produce and export LNG from the Vaca Muerta source at the Neuquén Basin.
The project marks the entry of Argentina to the global LNG exporting nations, with an initial plan to export 500,000 tons of LNG per year to overseas markets.
Exmar noted that unit will be producing up to eight LNG cargoes per year over the term of the contract.
Speaking of the agreement with YPF, Nicolas Saverys, Exmar’s CEO, said, “It opens up new markets and opportunities for the fast-track monetization of natural gas reserves along new routes of energy.”
YPF’s president Miguel Gutierrez added that the company is looking to take full advantage of the seasonal opportunity with the Asian markets as well as its position to serve specific demand centers.
The arrival and start of Tango FLNG’s operations are anticipated during the second quarter of 2019.