Belgium-based Exmar recently reached a settlement agreement with Argentina state oil and gas firm YPF SA over the Tango floating liquefied natural gas (FLNG) vessel docked at the Bahía Blanca port.

YPF issued a force majeure notice in June claiming it couldn’t meet the terms of its charter agreement for the Tango vessel because of Covid-19.

YPF is to pay Exmar $150 million, according to the Belgian company. Exmar said the vessel is now ready for other projects, thus ending Argentina’s brief one-year foray into sending out LNG for export.

In June 2019, Argentina started shipping out small-scale LNG exports, the first of their kind in the country. The LNG was produced on Exmar’s barge at Bahía Blanca using natural gas piped in from the vast Vaca Muerta shale formation...