Eni and YPF have signed a Final Technical Project Description to advance the 12 million-ton-per-year Argentina LNG project toward a Final Investment Decision, marking a major step in Argentina’s bid to become a global LNG exporter.
During a visit to Buenos Aires, Eni CEO Claudio Descalzi and YPF CEO Horacio Marin signed the Final Technical Project Description (FTPD) for the 12 MTPA phase of the Argentina LNG (ARGLNG) project. The agreement sets the stage for a Final Investment Decision (FID) on one of Latin America’s most ambitious gas export projects.
The Argentina LNG development envisions an integrated upstream–midstream model encompassing gas production, processing, transport, and liquefaction. The first phase will include two floating LNG (FLNG) units, each with a capacity of 6 MTPA – roughly 9 billion cubic meters per year – allowing Argentina to export liquefied gas and associated liquids.
The signing follows the Head of Agreement concluded between Eni and YPF in June 2025. The partners aim to leverage Eni’s expertise in fast-track FLNG development, proven through projects in Congo and Mozambique, and YPF’s operational experience in Argentina’s Vaca Muerta shale basin.
The meeting was attended by Argentina’s President Javier Milei, who has made energy exports a pillar of his government’s economic policy. The ARGLNG project is designed to unlock Vaca Muerta’s vast unconventional gas reserves, enabling Argentina to transition from a regional gas supplier to a global LNG exporter. At full scale, the development could reach up to 30 MTPA of LNG exports through multiple phases.
For Eni, the partnership strengthens its gas-focused growth strategy and supports its 2050 carbon neutrality goals by expanding low-carbon gas production and export capacity. For YPF, the collaboration offers a pathway to monetize Vaca Muerta’s output and attract international investment into Argentina’s energy sector.
By Charles Kennedy for Oilprice.com
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