In a groundbreaking deal, the Southern Energy consortium, which includes major gas producers from the Vaca Muerta region and is led by Pan American Energy owned by the Bulgheroni family, has signed a historic liquefied natural gas (LNG) contract worth $7 billion with Germany's Securing Energy for Europe (SEFE). Set to be formally signed on March 3, 2024, in Berlin, this contract is particularly notable as it promises to secure 80% of the exports from the Hilli Episeyo, Argentina's first LNG liquefaction vessel. This project will enable the export of 2 million metric tons per year (MTPA) of LNG to Germany, reinforcing the country's energy diversification strategy in an era marked by geopolitical uncertainties.

The Hilli Episeyo, equipped with a capacity to produce 2.45 MTPA, is scheduled to fulfill existing obligations in Cameroon until mid-2024, after which it will undergo modifications in Singapore before arriving in Argentina around mid-2027. This timing is critical as it aligns with Germany's urgent need for reliable energy sources following recent disruptions in its traditional supply chains. By establishing this partnership, Argentina positions itself as a vital player in the global energy market, particularly as European countries seek alternatives to Russian gas.

The deal not only represents a significant financial commitment but also underscores Argentina's potential to emerge as a major LNG supplier in the international market. This agreement signals a broader shift towards energy security and sustainability for Germany, while potentially spurring further international investments in South American energy projects, ultimately benefiting both nations economically and strategically.