(Photo: although technical studies are carried out, the decision to expand urea plant in Bahía Blanca just be taken early next year)
Buenos Aires, May 11th. Sources of eFarmNewsAr expressed today their surprise about a media article saying that “a US$1,000 million investment in Profertil will be announced in the next days” and deny any chance of this occur. The article is based on a talk of the YPF’s CEO Miguel Angel Gutierrez with journalists, last week.
There is a fact, opportunely commented by this website: the non-conventional oil and gas field Vaca Muerta will supply a huge amount of gas and Government is planning what to do with that surplus. The second fact is that technicians at Profertil are studying the feasibility to convert this gas in urea, through an extension of the Bahia Blanca facility and double its production capacity.
But Profertil is a 50/50 JV between YPF, the oil State-own company, and the Canadian fertilizers Nutrien LTD. “No decision it could be taken without the previous discussion an approval of both sides”, our sources affirmed.
The speculation is that in an electoral year, the Government is trying to bring positive titles to the media. But, in fact, the same article concludes saying that just at the end of this year, YPF will present a proposal for the utilization of the Vaca Muerta gas. This is a long run because the election will run in October and a possible new Government will rule de the country since December 10th.
Finally, as Vaca Muerta and its gas is a reality, not a political fiction, our sources indicated that early next year both companies could take a decision on the Profertil’s plant expansion.