Bladex Supports Argentina’s First LNG Export Project
Bladex (NYSE: BLX) announced the closing of a USD 125 million syndicated financing, with a 4-year tenor, granted to Southern Energy S.A. (“SESA”), the company developing Argentina’s first Liquefied Natural Gas (LNG) export project.
In the transaction, Bladex acted as Sole Lead Arranger and Bookrunner for a facility intended to finance investments associated with the project. As part of the structure, Bladex syndicated a portion of the transaction to a select group of institutional participants, reinforcing its ability to lead and mobilize international capital toward strategic energy infrastructure projects in Latin America.
SESA’s shareholders are investing USD 700 million in liquefaction infrastructure, pipelines, and compression. The project is expected to enable LNG exports of up to 6 million tons per year (MTPA) and generate more than USD 2.0 billion in annual export revenues.
“We are proud to support Southern Energy in an initiative that represents a decisive step in the development of Argentina’s export capacity. This project demonstrates how a long-term vision, supported by strategic infrastructure and access to financing, can turn world-class resources such as Vaca Muerta into concrete opportunities for growth and foreign currency generation. At Bladex, our purpose is to mobilize capital toward projects that drive Latin America’s competitiveness and sustainable development, and this transaction is a clear example of that,” said Carlos de Alvear, Senior Vice President for Bladex’s South America and Mexico Region.
“This financing represents key support to advance the development of infrastructure that will make it possible to transform Vaca Muerta’s gas potential into LNG exports. We value Bladex’s leadership and the confidence of the participating institutions in a strategic project for Argentina’s energy future,” said Pablo Sazbon, Chief Financial Officer (CFO) of Southern Energy S.A.
The development of this project represents a milestone for Argentina’s energy matrix by facilitating the monetization, liquefaction, and export of gas from Vaca Muerta, one of the world’s most important unconventional gas resources.
SESA is backed by Pan American Energy, YPF, Pampa Energía, Harbour Energy, and Golar LNG. The Argentine companies participating in the project are among the country’s largest natural gas producers.
This financing reaffirms Bladex’s commitment to projects that strengthen strategic infrastructure, energy security, and sustainable economic development in Latin America.
About Bladex
Originally established by the central banks of the region, Bladex began operations in 1979 and today provides financial solutions to financial institutions and corporations throughout the region. Headquartered in Panama, Bladex has offices in Argentina, Brazil, Colombia, and Mexico, an agency in New York, and a representative license in Peru. Bladex has been listed on the New York Stock Exchange (NYSE: BLX) since 1992, and its shareholders include central banks, state-owned banks, and representative entities from 23 countries in Latin America and the Caribbean, as well as commercial banks and institutional and private investors. For more information, visit www.bladex.com.
About Southern Energy (SESA)
SESA is a company formed by PAE (30%), YPF (25%), Pampa Energía (20%), Harbour Energy (15%), and Golar LNG (10%), with the objective of turning Argentina into an LNG-exporting country through different stages over the coming years. SESA confirmed an investment of more than USD 15 billion to export LNG over 20 years of operation of two floating liquefaction vessels to be installed in the Gulf of San Matías, in the province of Río Negro. Southern Energy expects to achieve exports of more than USD 20 billion between the start of operations in 2027 and 2035. SESA’s project will support the creation of 1,900 direct and indirect jobs, predominantly local, during the construction phase, and will include strong participation from local suppliers during project operations.