Argentina and India are teaming up to boost their energy cooperation, says Mariano A. Caucino, the Argentine Ambassador to India. After a meeting with India’s Minister of Petroleum, Hardeep Singh Puri, and the chairman of YPF (Argentina’s biggest energy company), Horacio Marín, the ambassador shared that this new partnership in energy could be just as good, or even better, than their current strong ties in agriculture.
On Tuesday, YPF signed an agreement with three major Indian companies: Oil and Natural Gas Corporation (ONGC), Gas Authority of India Limited (GAIL), and ONGC Videsh Limited (OVL). This deal will focus on exporting liquefied natural gas (LNG) to India, aiming for about 10 million tons a year! The agreement also includes plans for working together on lithium and other important minerals, plus searching for and producing oil and gas.
Key figures at the signing in New Delhi included Minister Puri, along with executives from the involved companies. YPF’s President, Horacio Marín, expressed excitement about this agreement, noting that Argentina could become a major energy exporter, generating around $30 billion over the next ten years.
Caucino emphasized that despite being far apart, Argentina and India have built a strong friendship based on common values. They will celebrate 75 years of good relations in 2024. He also remarked on Argentina’s secure role in ensuring India’s food and energy needs. With trade between the two nations valuing about $5 billion, Argentina aims to be a significant energy provider, especially as India’s economy continues to grow rapidly.
The upcoming visit of YPF’s President to India will also see the signing of more agreements to strengthen this energy partnership.
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