Tuesday, September 4th 2012 - 23:42 UTC

Russia’s Gazprom ready to help YPF develop gas and non-conventional resources

Argentine nationalized oil company YPF moved forward in the signing of an agreement with Russian state oil company Gazprom to develop conventional and non-conventional gas in Argentina and the eventual supply of liquefied gas.

CEO Galuccio and his Russian counterpart Alexey Miller during talks in Moscow

The announcement was made following a meeting in Moscow between YPF CEO Miguel Galuccio and his Russian counterpart Alexey Miller.

The agreement also details a work plan that will include a visit of YPF technicians to Russia and Gazprom technicians to Argentina. The agreement is added to the one announced by YPF last week regarding talks with US company Chevron for the exploring and development of non-conventional oil.

YPF also signed an agreement with Corporación América (a group of companies owned by Eduardo Eurnekian) for a 500 million dollars investment in shale and another one with Bridas, partially owned by the Bulgheroni family and the China National Offshore oil Corporation.

“It was a positive meeting and opened a new door to move forward with the ambitious goals we set on our investment plan. Gazprom is the world’s most important gas company and we have found topics in common to quickly explore a joint collaboration,” Gallucio said after the meeting, which lasted over an hour.

Russian state-run Gazprom own 18% of the world’s natural gas reserves and is the sole producer of liquefied gas in Russia.

The accord reached by YPF and Gazprom included a joint collaboration plan to explore non conventional gas and shale gas in Argentina, and the possibility of providing the country with liquefied gas.

YPF sources revealed that the meeting was agreed upon President Cristina Fernández and Russian counterpart Vladimir Putin during the last G20 summit in Los Cabos, Mexico.
 

22 comments Feed

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1 Think (#) Sep 05th, 2012 - 04:21 am Report abuse
Well.............

Gazprom wasn't exactly my personal favorite but......
We live in a globalised world....; the young ones keep telling me.
2 Frank (#) Sep 05th, 2012 - 05:24 am Report abuse
Gazprom, Texaco, etc etc etc ... all signed up... according to Galuccio.... its always Galuccio talking up pie in the sky...
3 LEPRecon (#) Sep 05th, 2012 - 07:29 am Report abuse
@2 Frank

I was just about to say that. Argentina always say that someone has 'signed' up to YPF, and it actually turns out that they haven't.

Perhaps they really believe that if they say it's happened, then it will happen.

However, if the Russians do sign, they will expect a full return on their investment. No capped prices, and should CFK try to steal their investment, then Putin would be very, very angry with them, and another of CFK's so called 'allies' will disappear.
4 Captain Poppy (#) Sep 05th, 2012 - 10:19 am Report abuse
Isn't Gazprom primarily a natural gas company and a crude driller? I thought they are trying to extract crude from shale? And Gaxprom will be able to import natural gas as well as I read in other news reports......don't they want to eliminate that? This is the know down deal....who got knocked down?
5 yankeeboy (#) Sep 05th, 2012 - 11:35 am Report abuse
Ever notice the “other” o/g company NEVER has a quote in any of the articles? Hmm wonder why?

Just remember, bullet train to Rosario, yeah sure, they can't even keep their other trains from falling off the tracks!
6 ChrisR (#) Sep 05th, 2012 - 01:06 pm Report abuse
Apparently the Ruskies have agreed to sell LNG to Argentina but that's about it. Hope they get their money up front.
7 ElaineB (#) Sep 05th, 2012 - 01:26 pm Report abuse
CFKC definitely does not want to upset Putin, unless she likes a nice cup of plutonium laced tea.
8 Trunce (#) Sep 05th, 2012 - 01:30 pm Report abuse
Makes sense given the cultural similarities

blogs.ft.com/beyond-brics/2012/09/05/gazprom-investigation-long-road-ahead/
9 Harry Stamper (#) Sep 05th, 2012 - 01:54 pm Report abuse
Getting into bed with the devil !

(I hope Mr Putin understands what he's doing)
10 yankeeboy (#) Sep 05th, 2012 - 02:02 pm Report abuse
YPF just had to borrow $ from the treasury to pay bonuses!!! I don't see anyone queuing up to do business with a failing (failed) company/country.
11 Trunce (#) Sep 05th, 2012 - 02:18 pm Report abuse
@ 7 ElaineB

That would be Polonium. Easy mistake to make with Polonium being 84 in the Periodic Table and Plutonium - 94 : )

All together now……..

♫ There's holmium and helium and hafnium and erbium
And phosphorous and francium and fluorine and terbium
And manganese and –mercury, molybdinum, magnesium,
Dysprosium and scandium and cerium and cesium
And lead, praseodymium, and platinum, plutonium,
Paladium, promethium, potassium, polonium, and
Tantalum, technetium, titanium, tellurium, (inhale)
And cadmium and calcium and chromium and curium. . ♫
12 Steveu (#) Sep 05th, 2012 - 02:35 pm Report abuse
@11 reminds me of

A proton walks into a bar looking perturbed (there's also a quantum mechanical joke in there somewhere but we'll keep it simple for now) and the barman asks him what's up. The proton complains he's missing an electron

“Are you sure”? asks the barman

“Yes - I'm positive!”

Sorry - waaay off topic!
13 ElaineB (#) Sep 05th, 2012 - 03:14 pm Report abuse
@ lol @ 11 and 12.

Yeah, polonium, plutonium, polonium, plutonium, let's call the whole thing off.

I'd settle for polonium in CFKC's tea.
14 Trunce (#) Sep 05th, 2012 - 03:33 pm Report abuse
@13

I just the place you could take her for tea..

www.novinite.com/view_news.php?id=73614
15 Condorito (#) Sep 05th, 2012 - 05:33 pm Report abuse
@ 14
..either there or BK's gaff...but it might not be Polonium she gets in her tea!
16 aussie sunshine (#) Sep 05th, 2012 - 06:40 pm Report abuse
BP loses out on Big business..oh well!!
17 LightThink (#) Sep 05th, 2012 - 07:34 pm Report abuse
I have never heard that CFK drinks tea

what an ignorancia !
18 Anbar (#) Sep 06th, 2012 - 10:30 am Report abuse
“BP loses out on Big business..oh well!!”

I think they've got enough f-ups on their books already, without adding another to it... ¬_¬
19 British_Kirchnerist (#) Sep 06th, 2012 - 11:20 pm Report abuse
#1 =)

#9 That was actually quite funny...

#15 And what would you be thinking of then? Sugar? But she's aleady the sweetest =)
20 Captain Poppy (#) Sep 07th, 2012 - 05:32 pm Report abuse
Sweet is she eating her again BK?
21 DanyBerger (#) Sep 09th, 2012 - 08:25 am Report abuse
Oh!

Poor Brits and Yanks indoctrinated to fear...
They fear the Russians, the Chinese, the Cubans, the Germans, the Argies, their shadows...

ha ha
22 Captain Poppy (#) Sep 09th, 2012 - 01:02 pm Report abuse
What an emotional based statement

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