Exmar Starts Argentine LNG Exports

Belgian ship owner Exmar has offloaded its first, modestly-sized cargo from Tango FLNG moored off Argentina, it said June 6, proving the vessel was operating as planned.

"With this first shipment the start-up of the Tango FLNG is accomplished in a record time following the contract
signing in November 2018 and delivery acceptance of the unit in Bahia Blanca in February 2019. The achievement
of this milestone has been possible thanks to the excellent co-operation between the teams of [Argentine oil and gas producer] YPF and Exmar," it said.

For YPF, the delivery of the first LNG cargo of about 25,000 m³ from the Vaca Muerta shale gas reserves marks the
entry of Argentina to the select club of global LNG exporting nations. For Exmar, the successful performance test in Bahia Blanca confirms the technical capabilities of the Tango FLNG. Tango FLNG is the first FLNG operating in the Americas and this historic milestone clearly proves Exmar's front runner position for cost competitive and quick-to-market floating liquefaction solutions," said Exmar CEO Nicolas Saverys.

The unit has been generating earnings since early May and is expected to be fully on stream after the Argentine winter season. 

Argentina joins Egypt as a former gas importer that now has sufficient gas output to meet export market needs as well.