Italy’s Eni and Argentina’s YPF have finalized an agreement to advance an LNG project in the Vaca Muerta field. The project aims to export up to 30 million tonnes of LNG annually through two FLNG units. Eni’s expertise in FLNG projects aligns with their goal for carbon neutrality by 2050.

Eni and YPF signed a technical project description and a preliminary agreement for the Argentina LNG project after a meeting between their CEOs and Argentina’s President. YPF anticipates drilling 800 new wells and doubling gas production by 2024, requiring substantial infrastructure and upstream development investments.

The Argentina LNG project will bolster international gas supply, utilizing Eni’s FLNG expertise and YPF’s operational experience. Eni’s commitment to gas production aligns with their carbon neutrality target. The project underscores Eni and YPF’s dedication to energy transition and sustainable development in Argentina’s Vaca Muerta field.

Read more at Yahoo Finance: ENI, YPF finalise agreement for LNG project in Argentina