Argentina LNG project gains international partners ENI and XRG

Argentina's state‑controlled oil company YPF signed definitive agreements with Italy’s ENI and XRG, the international arm of Abu Dhabi’s ADNOC, to acquire a 32% stake each in the upstream vehicle of the Argentina LNG project. The partnership covers the Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas gas blocks in the Vaca Muerta basin, with an estimated total investment of $20‑50 billion and plans for two floating liquefaction units capable of producing 12 million tonnes of LNG per year.

The provincial government of Neuquén approved a legislative framework to back the project, citing expected infrastructure development, employment, and new value‑chains. Officials noted that the LNG export will reduce production seasonality, attract $325 million in strategic investments for Cutral Co and Plaza Huincul, and help the province capture a larger share of Argentina’s energy export earnings. Both national and provincial authorities view the venture as a milestone that could position Neuquén as a leading LNG exporter in the region.