(YPF, 16.Dec.2020) — In compliance with the provisions set forth in article 73 of Law 26,831, YPF S.A. hereby informs the Audit Committee report is available to the shareholders at the company’s headquarters located in Macacha Güemes 515, City of Buenos Aires, in which the Audit Committee issued its opinion in accordance with the referred regulation regarding the participation of YPF in the National Public Tender for the award of natural gas volumes (“Plan Gas 4”), requested by the Necessity and Urgency Decree No. 892/2020, and convened by Resolution of the Secretariat of Energy No. 317/2020, considering that the terms and conditions of said operation (including the subsequent entering into contracts with Compañía Administradora del Mercado Mayorista Eléctrico S.A. and Integración Energética Argentina S.A., being the latter for the supply of residential consumption by distribution licensees or sub-distributors in the Patagonian region, Malargüe Department of the Province of Mendoza and Region known as Puna) are adequate to the usual and customary market conditions for similar contracts between independent parties.
In this sense, YPF hereby informs by means of Resolution No. 391/2020, the Secretariat of Energy ordered the approval of the tender and the award of natural gas volumes to the bidders, awarding to the company an annual gas supply volume of up to 7,628.5 million cubic meters (20.9 MMcm/d, the total amount offered in the auction, all corresponding to the Neuquina Basin).
Of the total volume committed, approximately 56% will be used to cover part of the demand from power plants through Compañía Administradora del Mercado Mayorista Eléctrico S.A., supplying the priority demand with the remaining 44%.
On the other hand, the awarded price was $3.66/Mbtu, which considering the volume subject to compensation under the Non-Conventional Gas Production Stimulus Program approved by Resolution No. 46-E / 2017 issued by the former Ministry of Energy for the concessions in which the company maintains in the Program (Aguada Pichana Este and Aguada Pichana Oeste-Aguada de Castro), results in a price calculated and estimated at present value of $3.21/Mbtu.
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