Abu Dhabi National Oil Company’s XRG is in talks to invest in Argentina’s LNG project with YPF SA. The project aims to make Argentina a significant LNG exporter, producing up to 28 million metric tons per year. Investor sentiment in Argentina has improved after President Milei’s party’s victory. YPF’s shares surged 38% on the news.

XRG, backed by Abu Dhabi, is looking to expand its LNG portfolio globally. ADNOC’s strategy aligns with the UAE’s push to invest in strategic industries worldwide. YPF also has LNG ambitions with Golar LNG Ltd., highlighting growing ties between Argentina and the UAE’s energy sector. CEO Horacio Marin met with ADNOC’s chief.

YPF’s LNG project involves a floating liquefaction facility in the Vaca Muerta shale basin. Partners like Shell and Eni are involved, but final investment decisions have not been made. XRG’s potential investment in Argentina’s LNG project reflects its broader global expansion strategy, including recent investments in the US and Germany.

Read more at Yahoo Finance: Abu Dhabi’s XRG in Talks to Join YPF’s LNG Export Venture