Gazprom and YPF sign Memorandum of Cooperation
RELEASE
Release
Alexey Miller, Chairman of the Gazprom Management Committee and Miguel Galuccio, Chief Executive Officer of Argentine National Petroleum Company YPF signed a Memorandum of Cooperation in Moscow today.
The ceremony was held in the presence of Vladimir Putin, President of the Russian Federation and Cristina Fernandez de Kirchner, President of the Republic of Argentina.
Miguel Galuccio, Vladimir Putin, Cristina Fernandez de Kirchner and Alexey Miller. Photo by RIA Novosti
The document stipulates the main areas of the future bilateral cooperation, including exploration, production and transmission of hydrocarbons in Argentina and third countries.
Background
YPF is the main oil and gas producer in Argentina, with a market share of more than 43%. It employs 74,000 people directly and indirectly. It operates three strategically located refineries in the country and a network of over 1500 service stations. YPF is the leader in all the segments of the industry (exploration, production, refinery, distribution and sales).
In 2013 Gazprom won an international tender for the supply of 15 LNG cargoes with a total volume of one million tons from Gazprom’s portfolio to Argentina between 2014 and 2015.