Eni has signed a memorandum of understanding (MOU) with YPF to explore potential participation in the Argentina LNG (liquefied natural gas) project.
The MOU was signed by Eni’s CEO, Claudio Descalzi, and YPF president and CEO Horacio Daniel Marín.
Go deeper with GlobalData
Led by YPF, the initiative aims to tap the Vaca Muerta onshore gas field, with plans to export up to 30 million tonnes per year (mtpa) of LNG by the end of the decade.
The MOU outlines collaboration on the development of upstream, transportation and liquefaction facilities through two floating LNG units with a combined capacity of 12mtpa.
Descalzi stated: “YPF’s choice of Eni as a strategic partner stems from the specific and distinctive know-how we have developed in FLNG [floating LNG] projects in Congo and Mozambique, and from the recognition of our global leadership in implementing projects with this technology.”
This agreement aligns with Eni’s strategy to support the energy transition by enhancing gas production and minimising emissions, targeting carbon neutrality by 2050.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataMarín said: “We are very pleased to sign this agreement with Eni, which would allow us to accelerate the timeline for the Argentina LNG project. We see great interest worldwide, both from large production companies and from countries seeking to purchase gas from Vaca Muerta.”
Also, this month, Argentina has commenced gas exports to Brazil from the Vaca Muerta shale formation, using Bolivian pipelines.
This involves a strategic partnership between TotalEnergies, YPFB and Matrix Energia, creating a sustainable export channel for Argentine gas to Brazilian markets.
The initial export volume was approximately 500,000m³ through the Bolivian pipeline.
