Santander, Citi, and JPMorgan Negotiate $1 Billion Loan for Gas Pipeline in Argentina
JPMorgan, Citigroup, and Banco Santander are in negotiations for a $1 billion loan to support a gas pipeline project in Argentina, led by Pan American Energy. The pipeline will link the Vaca Muerta hydrocarbon field to the Atlantic coast, facilitating natural gas exports, particularly to Germany, with operations expected to begin by 2028. The project involves multiple stakeholders, including YPF, and is crucial for enhancing gas supply capacity.
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JPMorgan, Citigroup, and Banco Santander are negotiating a loan of approximately $1 billion to finance a gas pipeline project led by Pan American Energy in Argentina. The pipeline will connect the Vaca Muerta hydrocarbon field to the Atlantic coast.
Pan American Energy holds a 30% stake in the project, known as VMOS, while YPF owns 25%, and other companies hold smaller shares. The pipeline, under construction, will facilitate natural gas exports, with two liquefaction ships planned for operation by 2028, targeting significant shipments to Germany.
Initial gas supply will require minor upgrades to existing pipelines, but a dedicated pipeline is essential for full capacity operation. The negotiations may include additional banks, and terms are still being finalized.
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