YPF S.A., ENARSA and Excelerate Energy Inaugurate the Opening of Argentina’s Second LNG Import Facility

June 16, 2011

ESCOBAR, ARGENTINA – With President Cristina Fernández de Kirchner present to honor the opening of Argentina’s second LNG import facility, a joint development between YPF S.A., ENARSA and Excelerate Energy, GNL Escobar (GNLE) was officially open for business on June 8, 2011. Located on the Paraná River, about 30 miles outside Buenos Aires City, GNLE utilizes Excelerate Energy’s GasPort® design. As well as providing increased peak capacity for the high-demand winter months, the facility delivers additional natural gas supply and transport capacity to the Buenos Aires region. The facility began receiving cargoes on May 24, 2011 and has already offloaded four cargoes of LNG using ship-to-ship transfers. Ongoing operations and supply logistics of the facility are currently coordinated jointly between the three companies.

GNLE is similar in design and function to the Bahia Blanca GasPort (BBGP), also located in Argentina. The GNLE incorporates a jetty-mounted, articulated gas-offloading arm (HP gas arm) and uses Excelerate Energy’s proprietary Energy Bridge™ floating storage and regasification vessel (FSRU) technology. The facility has a baseload throughput capacity of 500 MMcf/d, with peak throughput capacity at 600 MMcf/d, and has direct access to the Buenos Aires region and Argentina’s natural gas grid.

GNLE is another example of the successful collaboration between YPF, S.A., ENARSA and Excelerate Energy’s proven fast-track GasPort approach. The facility only took nine months to develop from construction start to in-service – on schedule and just in time for the peak winter months. With relatively low capital investment – permitting and construction at a fraction of the cost of a traditional onshore LNG terminal – the inherent flexibility of the Excelerate Energy Bridge design allows GNLE to adapt to the high seasonality of Argentina’s natural gas market, allowing a fast response to the peak consumption periods.

 

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