The company will become the second largest shareholder in the project that will allow LNG exports, through the installation of a liquefaction vessel in the Gulf of San Matías, in the province of Río Negro

Pampa will have a 20% stake in the Southern Energy company , created by Pan American Energy and Golar LNG to carry out the project, and is committed to supplying 22.2% of the natural gas volumes from its fields in the Neuquén basin.

Gustavo Mariani , CEO and Vice President of Pampa Energía , said: 
“We decided to join because we consider it a very important project for the country to become a global exporter of liquefied natural gas.” 

“This will help consolidate macroeconomic stability, transforming the immeasurable reserves we have underground into foreign currency that will increase the trade surplus policy,” he added.

Rodolfo Freyre, Vice President of Gas, Energy and Business Development at Pan American Energy, said:
“Vaca Muerta's unconventional natural gas is competitive with the best resources worldwide and needs to develop new markets to consolidate its growth. LNG will open the door to the world for us and with Southern Energy we seek to be a reliable supplier for the global market. This project, to which Pampa Energía is now joining, is the first step on a path that will be developed in stages and that must involve the entire industry.”

The project led by Pan American Energy will allow the export of 11.5 million cubic meters of natural gas per day. Through an investment of 2.9 billion dollars over the next 10 years, and expected to reach almost 7 billion dollars throughout its useful life, the project will allow the installation and operation of the Golar “ Hilli Episeyo ” liquefaction vessel , contracted by Southern Energy , in the San Matías Gulf.

The vessel has a production capacity of 2.45 million tons of LNG per year, equivalent to 11.5 million cubic meters of natural gas per day. This project, which recently requested its entry into the RIGI, will allow Argentina to position itself in the global LNG market, where the country does not yet have a share. In addition, it will promote job creation and the development of the entire natural gas value chain with a high participation of local suppliers.

Pampa currently produces an average of 14.5 million cubic meters of natural gas per day in its Sierra Chata and El Mangrullo fields in Vaca Muerta, with peaks of 17 million in winter.

KeyFacts Energy: Pan American Energy Argentina country profile   l    Pampa Energía Argentina country profile