Argentina LNG seeks RIGI approval for $51 billion Vaca Muerta project

Argentina LNG, a joint venture comprising YPF, Eni, and XRG, has formally applied for inclusion in the Large Investment Incentive Regime (RIGI). The project seeks to develop the Vaca Muerta shale formation into a major liquefied natural gas (LNG) export hub by 2031.

The initiative involves a total estimated investment of $51 billion, making it the largest project submitted under the RIGI framework established by President Javier Milei. The plan includes the deployment of two floating LNG units offshore Río Negro with a combined capacity of 12 million tonnes per year. The partners aim to reach a final investment decision by the end of 2026, with projections suggesting the venture could generate approximately $10 billion in annual export revenues over two decades.