Argentina’s state-controlled energy giant YPF has entered the final stage of selling a controlling 70% stake in Metrogas, the country’s largest natural gas distributor.
Five investment groups are currently competing for the asset, with bids reaching up to US$560 million.
The transaction marks a significant strategic shift for YPF, which is divesting its urban distribution business to concentrate resources on upstream production in the Vaca Muerta shale formation.
The sale reflects YPF’s broader strategy to streamline operations and fund capital-intensive shale projects.
By exiting the regulated distribution segment, the company aims to redirect cash flow toward expanding LNG export capacity and domestic gas production.
This move aligns with recent international interest in Argentina’s energy sector, including stakes acquired by Italy’s Eni and Abu Dhabi’s XRG in Vaca Muerta blocks.