NEW DELHI, Jan 21: Argentina's state-run oil company YPF signed a memorandum of understanding with three Indian firms to potentially export up to 10 million metric tons of liquefied natural gas (LNG) per year.

YPF Chief Executive Horacio Marin inked the deal in New Delhi with executives from Oil and Natural Gas Corporation (OIL), Gas Authority of India Limited (GAIL) and Oil and Natural Gas Corporation Videsh Limited.

Indian Minister Hardeep Singh Puri witnessed the signing of an MoU between three Central Public Sector Enterprises and YPF.

Hardeep Puri said he had a productive meeting with Argentine Ambassador Mariano Agustin Caucino and discussed the opportunities that exist for both countries across the entire energy value chains including crude, LNG and critical minerals.

The Minister said he was happy to hear his assessment of the importance of India which has emerged as global energy engine under the invaluable leadership of Prime Minister Narendra Modi.

The agreement also covers cooperation in lithium, critical minerals, and hydrocarbon exploration and production, YPF said in a statement.

"We are convinced that the country has an opportunity to become an energy exporter and achieve the objective sought by the entire industry to generate revenues of $30 billion over the next 10 years," Marin said.

Marin had also visited Israel, South Korea and Japan to seek buyers for LNG from Vaca Muerta, the world's second-largest shale gas reserve.