YPF sells stake in Argentina’s largest natural gas distributor to electricity firm

Argentina's state-owned YPF is exiting the natural gas distribution business, selling its seventy percent stake in Metrogas to Edenor, the country's largest electricity distributor. The transaction, valued at seven hundred eighty million dollars, also includes YPF's five percent stake in gas supplier Metroenergía. Metrogas serves over two million households across Buenos Aires and surrounding areas, representing about nineteen percent of Argentina's natural gas market. Per Buenos Aires Herald, the move is part of YPF's strategy to streamline its portfolio and focus on developing the Vaca Muerta shale formation, where the company aims to become a world-class producer. Edenor, controlled by businessmen José Luis Manzano, Daniel Vila, and Mauricio Filiberti since twenty twenty, must still obtain regulatory approvals before the deal closes.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton