Italy’s Eni, Argentina’s YPF and UAE-based investment company XRG (ADNOC’s subsidiary) have signed a binding Joint Development Agreement (JDA) to advance the Argentina LNG project (Eni press release, 12/02/2026).
- 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.
- For its first phase, Argentina LNG is expected to deliver 12 Mt/year of LNG capacity via two floating gas liquefaction units (FLNG) with a capacity of 6 Mt/year each. The project is designed to include production, processing, transportation, and LNG export infrastructure.
“The JDA marks another milestone for the project, establishing the workplan for the parties to progress through the next stage of development. Under the agreement, the partners will commence Front-End Engineering Design (FEED) and related activities, including engineering, technical structuring and key commercial and financing workstreams”, according to the press release.
“We will now continue working very intensively to reach FID during the second half of 2026”, stated the President and CEO of YPF. First exports from the project are expected by 2030 or 2031.
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