Argentina and Chile launch US$354 million natural gas project

The state-run energy firms of Chile and Argentina recently announced that they had launched a US$354 million project to increase production of natural gas off the southern tip of South America.

The project, operated by Chile’s state-run ENAP in partnership with YPF, will boost production of natural gas to 4 million cubic meters daily from the current 2.4 million, while increasing petroleum production by nearly 25 % at the site, the firms said in a statement.

“This ambitious project contributes to the supply of energy in Argentina and bolsters regional integration,” ENAP General Manager Marcelo Tokman said in the statement.

The project, which includes five oil platforms, is at the mouth of the eastern end of the Strait of Magellan in Argentina’s Santa Cruz province.