.jpg)
1 hour ago
2
Article content
(Bloomberg) — Chevron Corp. and two other major Argentine shale producers will sign contracts this week to supply a natural gas liquids project, a move that all but assures the $3 billion plan goes ahead, according to people familiar with the matter.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Chevron, the US supermajor that’s eyeing a ramp-up in the Vaca Muerta shale basin, will partner with state-run YPF SA and private energy firm Pluspetrol SA, to sign contracts with TGS SA, a gas company leading the project. It is seen as crucial to avoiding infrastructure bottlenecks in the booming shale patch.
Article content
Article content
Article content
The three drillers will fill roughly 80% of the project’s capacity and signing the contracts is a step that goes hand in hand with TGS giving it the green light, known as the final investment decision, said one of the people.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The project will turn natural gas — much of it so-called associated gas that comes out of oil wells — into liquids like butane and propane for export. TGS will pay for some of the $3 billion investment itself, with the rest financed by banks that are close to agreeing terms.
Article content
YPF declined to comment. Pluspetrol declined to comment. TGS didn’t immediately reply to a request for comment. Chevron didn’t immediately reply to an emailed request for comment.
Article content
The liquids project is one of several processing and pipeline export ventures that are set to turn Argentina’s shale industry into a global energy provider over the coming years.
Article content
Chevron’s bet on Argentina goes far beyond the gas liquids project. It recently applied to President Javier Milei’s signature investment program, which includes tax breaks, for a $13.8 billion oil drilling venture. It marks some of the most significant US investment in Argentina since Milei took office.
Article content
Advertisement 1
English (US)