Argentina plans to rehabilitate the Trasandino pipeline next March, which will allow it to export more oil to Chile, as confirmed on Thursday by the president of the oil company YPF (BA: YPFD ), the largest Argentine producer of hydrocarbons.
“We are investing in a system for the evacuation of crude oil to Chile. In the month of March we are going to put the Trasandino pipeline into operation,” said the president of YPF, Pablo González, during a ceremony in Buenos Aires.
The rehabilitation of the oil pipeline that connects the Argentine province of Neuquén with the Chilean region of Biobío will increase oil exports from Argentina to Chile.
The so-called Trasandino pipeline, which was created in 1994 and has not operated since 2006, is key to sending to Chile the oil that is increasingly produced in the colossal Vaca Muerta formation of unconventional hydrocarbons, whose epicenter is in Neuquén.
The 425-kilometre pipeline connects the deposits in the north of Neuquén with the Biobío refinery and the port of Concepción in Chile, through the Andes Mountains.