Gazprom and YPF ink Argentina upstream collaboration agreement

Submitted by Paddy Harris on Thu, 2015-04-23 17:06

23rd April 2015

Alexey Miller, chairman of the Gazprom Management Committee, and Miguel Galuccio, chief executive officer of Argentina’s national oil company YPF, have signed a memorandum of cooperation in Moscow today

The ceremony was held in the presence of Vladimir Putin, president of the Russian Federation and Cristina Fernandez de Kirchner, president of the Republic of Argentina.

The document stipulates the main areas of the future bilateral cooperation, including exploration, production and transmission of hydrocarbons in Argentina and third countries.

The ceremony was held in the presence of Vladimir Putin, president of the Russian Federation and Cristina Fernandez de Kirchner, president of the Republic of Argentina.

YPF is the main oil and gas producer in Argentina, with a market share of more than 43 per cent. It employs 74,000 people directly and indirectly. It operates three strategically located refineries in the country and a network of over 1500 service stations. YPF is the leader in all the segments of the industry (exploration, production, refinery, distribution and sales).

In 2013 Gazprom won an international tender for the supply of 15 LNG cargoes with a total volume of one million tons from Gazprom’s portfolio to Argentina between 2014 and 2015.