Eni, YPF Agree to Jointly Develop Argentina LNG Project with FLNG Units
(P&GJ) — Eni and Argentina's state energy company YPF have signed a Memorandum of Understanding (MoU) to jointly evaluate Eni’s participation in a key phase of the Argentina LNG project, the companies said on April 14.
The agreement covers development of upstream, transportation, and gas liquefaction infrastructure for the project’s initial phase, which includes two floating LNG (FLNG) units with a combined capacity of 12 million tonnes per annum (MTPA).
Argentina LNG, led by YPF, is a large-scale gas export initiative based on the Vaca Muerta shale play, aiming to supply global markets with up to 30 MTPA of LNG by the end of the decade.
“YPF's choice of Eni as a strategic partner stems from the specific and distinctive know-how we have developed in FLNG projects in Congo and Mozambique, and from the recognition of our global leadership in implementing projects with this technology,” said Claudio Descalzi, CEO of Eni.
"We are very pleased to sign this agreement with Eni, which would allow us to accelerate the timeline for the Argentina LNG project," said Horacio Daniel Marín, President and CEO of YPF. "We see great interest worldwide, both from large production companies and from countries seeking to purchase gas from Vaca Muerta."
The MoU aligns with Eni’s broader strategy to support the energy transition through natural gas development and reduced emissions, while also advancing energy security and competitiveness.
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