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YPF ANNOUNCES 1994 NATURAL GAS PRICES FOLLOWING PRICE DEREGULATION

 BUENOS AIRES, Argentina, Jan. 14 /PRNewswire/ -- Following the Government of Argentina's issuance of Decree 2731, which authorizes the deregulation of natural gas prices effective January 1, 1994, YPF (NYSE: YPF) announced that it has renegotiated 88% of its natural gas contracts and will begin direct gas sales to save electrical power generating plants. The renegotiated contracts were executed with the six main distribution companies. Prior to deregulation, the price for natural gas was officially regulated at $0.97 per million BTU.
 YPF President and Chief Executive Officer, Jose Estenssoro said:
 "Given YPF's dominant position as the country's leading gas producer, YPF had the responsibility to ensure an orderly transition to a free market gas industry in Argentina. YPF has assured its customers that it would undertake only moderate price increases."
 "Contracts for gas from the Neuquen basin have been set at prices ranging from $1.15 per million BTU in the summer and up to $1.18 per million BTU in the winter for 1994. About 85% of YPF's gas production comes from the Neuquen basin. Contracts for gas from other parts of the country have been set at prices ranging from $0.97 per million BTU for the Austral basin to $1.05 per million BTU for the Norwest basin."
 "The weighted average for YPF sales during 1994 will be around $1.12 per million BTU."
 -0- 1/14/94
 /CONTACTS: Darial R. Sneed, 212-572-6344, or Jorge Estela, Buenos Aires, 54-1-326-4839, both for YPF/
 (YPF)


CO: YPF ST: IN: OIL SU:

LD -- NY003 -- 2034 01/14/94 08:09 EST
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Date:Jan 14, 1994
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