Argentina set to become part of the VLCC trading map
Jul, 17, 2024 Posted by Gabriel MalheirosWeek 202429
Argentinians could soon see very large crude carriers (VLCCs) off their coastline.
A pipeline is under construction to deliver crude from Vaca Muerta, South America’s largest shale formation, to Punta Colorada port, located some 300 km south of the capital Buenos Aires on the Atlantic.
According to broker Gibson the new pipeline is expected to transport 180,000 barrels per day by 2026, and eventually reach 400,000 barrels per day in 2030. The loading terminal will be equipped with two single point moorings designed to accommodate VLCCs.
Currently most crude exports from Argentina are carried on aframaxes.
Production plans suggest that Argentina could make it into the top 20 crude exporters by the end of the decade with much of the output destined for Asia according to Gibson.
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