YPF-Gazprom Agreement to Develop Shale Projects in Vaca Muerta Bleak
Gazprom the largest extractor of natural gas in the world and one of the world’s largest companies signed an agreement with Argentina’s state-controlled energy company YPF for a joint project to extract natural gas in Vaca Muerta, Patagonia. That was last year, what’s the current status?
Honestly speaking, any projects related to the oil industry regardless if it’s a joint project between two giant corporations would be considered as bleak. You’d have many times more luck if you invest in Chile as proposed by this source: http://thedaytradingacademy.com/investing/invest-chile-switzerland-south-america. So long story short, the agreement would be abandoned sooner or later.
Sadly, it could’ve been an economic boost for Argentina since Patagonia contains some of the world’s largest shale oil and gas reserves. Oil crash happened so what can we do?