• 12 mtpa project positions Argentina among leading LNG exporters
  • Project to unlock significant investment, employment and long-term energy export capacity

Buenos Aires, Rome, Abu Dhabi – YPF, Eni and XRG, the foundational project partners, today announced they have signed a binding Joint Development Agreement (JDA) to advance Argentina LNG. This large-scale integrated gas and liquefaction project will unlock Argentina’s Vaca Muerta shale basin and help position the country as a long-term global LNG supplier.

Argentina LNG is expected to deliver 12 million tons per annum (mtpa) of LNG capacity, via two floating LNG facilities with a capacity of 6 mtpa 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.

Horacio Marín, President and CEO of YPF, stated: “This new step marks the formal inclusion of XRG into the project we have been developing together with Eni. These two world-class players allow us to position Argentina LNG as one of the leading LNG projects globally. We will now continue working very intensively to reach FID during the second half of 2026.”

Guido Brusco, Eni Chief Operating Officer Global Natural Resources, commented: “With the Joint Development Agreement a new partner – XRG – joins Argentina LNG, which is emerging as one of the most promising opportunities in the global gas landscape. This project is taking shape in a way that reflects both technological leadership and strategic vision.”

Mohamed Al Aryani, President, International Gas at XRG, said: “Argentina LNG’s potential is significant, and this agreement marks an important milestone in the project’s development. YPF, Eni and XRG share the ambition to progress a large-scale LNG project that supports reliable, flexible energy supply to international markets while creating long-term value for partners and local communities.”

About YPF:

YPF is the largest shale operator in Vaca Muerta and a leader in Argentina's energy sector. It has a presence throughout the value chain, from hydrocarbon production and transportation to refining and operating the country's largest network of gas stations. The company is currently spearheading initiatives that will transform Argentina into an energy exporter, including Vaca Muerta Oil Sur (VMOS), which is set to increase crude oil production, and Argentina LNG, a large-scale project that will facilitate gas exports on a global scale.

About Eni:

Eni is a global energy tech company present in 64 countries that aims to produce and sell increasingly decarbonized and customer-oriented energy products and services leveraging the best available technologies and the constant search for cutting-edge solutions. The goal is to achieve carbon neutrality by 2050.

About XRG:

XRG is ADNOC's international investment arm. With a valuation exceeding $150 billion, XRG is building a global portfolio to meet a new era of energy demand. Focused on long-term value creation and shared prosperity, XRG invests across energy and chemicals to deliver energy security and essential materials to the world.