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Argentina signs 8-year LNG export deal with Germany

Argentinian consortium Southern Energy will supply up to two million tonnes of LNG per year to Germany’s Sefe, marking the first South American alliance for the European importer.

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Argentinian consortium Southern Energy has reached a preliminary agreement to export liquefied natural gas (LNG) to German company Sefe for a duration of eight years. The joint announcement states that deliveries will begin at the end of 2027, with annual volumes reaching up to two million tonnes.

An economic lever based on Vaca Muerta

Formed by Yacimientos Petrolíferos Fiscales (YPF), Pan American Energy and Pampa Energía, Southern Energy aims to develop the Vaca Muerta field in central-southern Argentina. This basin, spanning nearly 30,000 square kilometres, is regarded as one of the world’s largest unconventional hydrocarbon reserves.

The agreement is expected to generate $7bn in revenue for the Argentinian economy, according to YPF President Horacio Marín. The project positions Argentina to enter the global LNG market, from which it is currently absent despite its substantial gas resources.

A strategic diversification for Sefe

Frédéric Barnaud, Chief Commercial Officer of Sefe, stated that the alliance represents the company’s first contractual relationship with a South American LNG supplier. He highlighted the importance of this deal in diversifying Sefe’s geographical gas portfolio, with the aim of strengthening Europe’s energy security.

Sefe, formerly under Gazprom control, has been pursuing a strategic shift away from Russian sources since 2022. This new agreement with Southern Energy signals an expansion beyond traditional suppliers, notably those in Africa and the Middle East, which dominated global LNG exports in 2024.

Contractual terms still under negotiation

The companies noted that the agreement remains subject to the negotiation and signing of a definitive purchase contract. If finalised, it would mark Argentina’s first large-scale LNG sale.

In June, YPF also signed a framework agreement with Italian company ENI for a 20-year LNG export deal. These developments suggest a shift in Argentina’s gas strategy, moving from domestic consumption and regional pipeline exports to positioning itself in the international LNG trade.

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