YPF, Eni, XRG Advance 12-MMtpy Argentina LNG Toward FID
YPF, Eni and XRG have signed a Joint Development Agreement to advance the 12-MMtpy Argentina LNG project, launching FEED work as partners target FID in the second half of 2026.
(P&GJ) — YPF, Eni and XRG have signed a binding Joint Development Agreement (JDA) to advance the proposed Argentina LNG project, a 12-million-ton-per-year (MMtpy) development aimed at monetizing gas from the Vaca Muerta shale basin and positioning Argentina as a long-term LNG exporter.
The integrated project is designed to include upstream production, processing, transportation and liquefaction infrastructure. Current plans call for two floating LNG facilities, each with capacity of 6 MMtpy.
The agreement establishes the work program for the next phase of development, including the launch of Front-End Engineering Design (FEED) and related technical, commercial and financing activities. The partners are targeting a Final Investment Decision (FID) in the second half of 2026.
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.”
If developed as planned, the project would represent one of Argentina’s largest energy export initiatives to date and a significant step in bringing additional LNG supply to global markets.