Additionally, YPF has already signed a Memorandum of Understanding with the companies Oil and Natural Gas Corporation (OIL), Gas Authority of India Limited (GAIL), and Oil and Natural Gas Corporation Videsh Limited (OVL) from India, with the intention of exploring the export of LNG for up to 10 million tons per year.
In 2024, the global LNG trade reached 407 million tons, with a slight increase of 3 million tons compared to the previous year, marking the smallest expansion of supply in the last decade. Meanwhile, China and India strengthened their imports, while Europe reduced its purchases by 19% due to the advancement of renewable energies and weak industrial demand.
Although the report doesn't explicitly mention Argentina, the growth of the Asian market and the increasing reliance on the United States as a supplier open an opportunity for the country as a potential exporter from Vaca Muerta.
Commercially, most of the LNG contracts signed in 2024 came from the Middle East, while the U.S. reduced its exports after a record period between 2021 and 2023. At the same time, China and India expanded their regasification and distribution capacity, consolidating themselves as the main drivers of future demand.
With limited supply and growing competition between Europe and Asia to secure supply, LNG will remain a strategic resource for global energy security.
