Chile signs oil import deal with Argentina's YPF

Energoaparatura SA

08/05/2023 22:18

BUENOS AIRES, May 8 (Reuters) - Chilean state oil
company National Petroleum Company (ENAP) said on Monday it has
signed a temporary agreement with Argentine oil firm YPF
 YPFD.BA  to import crude through the Trasandino pipeline, a key
step for both countries' trade.
    The Trasadino pipeline, known as OTA-OTC or OTASA, connects
the huge Vaca Muerta shale formation in the western Patagonian
province of Neuquen with Chile, and is co-owned by ENAP, YPF,
and Chevron Corp  CVX.N .
    Vaca Muerta, the world's second largest shale gas reserve
and fourth largest for shale oil, is seen as key to Argentina's
push to lessen reliance on pricey energy imports.
    The contract, which is valid for 45 days, would enable the
Chilean firm to buy 41,000 barrels of oil per day between May
and June.
    ENAP said in a statement that, although the deal is a
"regular purchase operation," it is an initial step for the
renewal of "energy-oil interconnection between the two countries
in the long term."
   

 (Reporting by Eliana Raszewski; Writing by Carolina Pulice
Editing by Marguerita Choy)
 ((mailto:carolina.pulice@thomsonreuters.com;))