Argentina's YPF ordered to divest MetroGAS stake

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Wednesday, February 15, 2017

Argentine natural gas regulator Enargas ordered state oil company YPF to divest its 70% stake in natural gas distributor MetroGAS.

Enargas cited a law prohibiting companies involved the production and transport of hydrocarbons – such as YPF – from also participating in the distribution segment.

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YPF acquired its stake in Gas Argentina – the holding that controls MetroGAS – in 2013, in a transaction that was authorized at the time by Enargas.

The state-controlled company said in a statement that it was evaluating the latest directive in order to be in compliance with the law and to protect the interests of its shareholders.