On November 27, 2024, YPF President and CEO Horacio Marín announced plans to engage with private and public sector leaders in Paraguay and Brazil to explore markets for natural gas from Vaca Muerta. This initiative follows a Memorandum of Understanding signed between Argentina and Brazil during the recent G20 summit.
Marín emphasized the need for a gas pipeline system to connect to São Paulo, stating that potential regional demand in Chile and Brazil could reach 40 million cubic meters per day through pipelines, and up to 120 million cubic meters per day via liquefaction barges and onshore facilities. He noted that these infrastructure projects would require private financing and should be dedicated solely to exports.
The YPF leader projected that energy exports from Vaca Muerta could generate $30 billion annually by the next decade, contingent on collaboration among all stakeholders, including business leaders and workers.
Additionally, Marín highlighted that YPF Luz is the second-largest renewable energy generator in Argentina, with approximately 700 megawatts of installed capacity. This comment was made during the 30th Industrial Conference organized by the Argentine Industrial Union in Buenos Aires.
Ramón Fiestas Hummler, director of the Global Wind Energy Council, also spoke at the conference, advocating for Argentina to harness its wind energy potential, estimating that the country could develop an additional 3,500 megawatts, creating around 8,000 indirect jobs and attracting $8 billion in investments over the next five years.
In the mining sector, Guillermo Caló, project manager for Rio Tinto's Rincón lithium project in Salta, stated that Argentina could increase its copper and lithium production significantly. He reported that last year's mining exports totaled $4 billion, representing only 0.8% of the GDP, compared to $52 billion in Chile, which accounted for 12% of its GDP. Caló cautioned that investment challenges persist, particularly due to currency restrictions that deter investors from committing large sums without the ability to pay interest and repatriate profits.