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Uruguay's Gas Sayago and Argentine state oil company YPF signed an MOU to commercialize the natural gas surplus to be produced by the LNG regasification plant GNL del Plata, according to a government release.
Expected to be online mid-2015, the plant – located near Montevideo – will have the capacity to produce 10Mm3/d of natural gas.
In the first three or four years, production will exceed local demand by 50%, according to Uruguay's state oil company Ancap, "that means the potential to commercialize 5-6Mm3/d" Anacap's head José Coya said. The surplus gas will be exported to Argentina.
Next week, Gas Sayago will sign a similar deal with Brazil-based Sulgás supply Rio Grande do Sul state, though on a smaller scale.
Gas Sayago is a joint venture between Uruguay's state power and oil companies UTE and Ancap.