Argentina's Pampa Energia joins LNG export project
Updates with additional detail from statement, adds context on YPF
BUENOS AIRES, Nov 29 (Reuters) -Argentina's Pampa Energia PAMPm.BA said on Friday it has joined Pan American Energy and Golar on a project to export liquefied natural gas (LNG) out of the South American nation.
Pampa Energia will hold a 20% stake in Southern Energy, the LNG jointventure from Pan American Energy PNRG.CD and Golar, the company added in a statement.
"We consider it a very important project for the country to become a world exporter of liquefied natural gas," Pampa Energia CEO Gustavo Mariani said in the release.
The project aims to export 11.5 million cubic meters of LNG per day and is set to require a $2.9 billion investment over the next 10 years.
Pampa Energia said it has pledged to supply 22.2% of those volumes from its fields in the Neuquen basin, home of the the massive Vaca Muerta shale formation.
Argentine state-owned energy company YPFYPFDm.BA is also set to join the export project, according to a recent comment by its head Horacio Marin on LinkedIn.
"We are joining this initiative which marks a milestone in our country's energy industry and represents a significant step to advance our Argentina LNG project," Marin wrote in a post.
Reporting by Eliana Raszewski; Editing by Kylie Madry
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