YPF, the oil company controlled by the Argentine state following the expropriation of a 51 percent stake in the company from Spain's Repsol, said it was studying the possibility of buying liquefied natural gas (LNG) from Russia's Gazprom.
YPF CEO Miguel Galuccio and Gazprom management committee chairman Alexey Miller discussed the LNG purchases at a meeting Tuesday in Moscow.
The executives agreed to "move ahead with the development of conventional and non-conventional gas" and "also evaluated scientific-technical cooperation projects," YPF said in a statement.
"It was a positive meeting and opened another door to move forward with the ambitious goals that we set in our plan. Gazprom is the world's most important gas company and we have found points in common for quickly exploring joint cooperation," Galuccio said.
Galuccio and Miller outlined a work plan "that will include a visit by a YPF technical team to Russia soon, followed by a visit by a Gazprom team to Argentina," YPF said.
YPF's CEO presented an investment plan last Thursday that calls for capital spending of $37.2 billion in the 2013-2017 period.
The Argentine government seized control of YPF in May, when Congress approved a bill to expropriate a 51 percent stake in the energy firm from Spanish oil major Repsol, which retains a 12 percent stake in the oil company.
President Cristina Fernandez's administration has accused the Spanish company of using YPF as a cash cow to fund its international expansion.
YPF posted net income of 2.12 billion pesos ($458.4 million) in the first six months of 2012, down 10.1 percent from the same period last year.
YPF, however, reported net income of 833 million pesos ($179.2 million) in the second quarter, up 8 percent from the same period in 2011. EFE