Eni has signed a Sale and Purchase Agreement (SPA) to acquire a 32% interest in three upstream blocks in Argentina’s Vaca Muerta basin, linked to the Argentina LNG project (Eni press release, 29/06/2026). The blocks (the Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas) are planned to supply about 12 Mt/year of LNG to the Argentina LNG project through two floating LNG units of 6 Mt/year each as part of the project’s first phase. Once the transaction is completed, subject to regulatory approvals, the assets should be held by YPF (36%), Eni (32%) and XRG (32%).
Argentina LNG is a project aimed at exploiting the onshore Vaca Muerta shale basin, home to the world’s second-largest shale gas reserves and to supply international markets with up to 30 Mt/year of LNG in multiple independent phases. The agreement marks another step in the maturation of Argentina LNG, as the country seeks to develop Vaca Muerta resources and expand its role as a long-term LNG exporter.