April 27 (Reuters) – Camuzzi Gas Inversora and Vitol signed a memorandum of understanding for Argentina’s LNG del Plata project, the Argentine firm said on Monday, with Vitol potentially acquiring up to 100% of production and evaluating an equity investment.
The project, currently wholly owned by Camuzzi, is located at the Port of La Plata in Buenos Aires province and will require an investment of $3.9 billion over the next 20 years.
• Vitol may purchase up to 100% of LNG del Plata’s production through a long-term offtake agreement.
• Vitol will also evaluate making an equity investment in the project alongside Camuzzi.
• The dual-purpose project will export liquefied natural gas while also strengthening domestic supply during peak demand months in Argentina, Camuzzi said.
• The project has access to infrastructure transporting natural gas from the vast Vaca Muerta shale formation in the Neuquen Basin.
• LNG del Plata targets exports of more than 2.4 million metric tons a year, equivalent to production of more than 9 million cubic meters per day of natural gas.
Brazil Energy Insight 
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