Eni and YPF signed a non-binding agreement with XRG, a subsidiary of ADNOC, to explore collaboration on the Argentina LNG project, aiming to make Argentina a major LNG exporter by 2030.

The agreement sets the stage for XRG’s potential participation in the project and advancing the Final Investment Decision, part of the ARGLNG project targeting up to 30 MTPA of LNG exports by the end of the decade.

Eni and YPF’s initial phase of the project includes two FLNG units with a combined capacity of 12 MTPA, focusing on gas production, processing, transportation, and export of associated liquids.

ADNOC’s potential entry with XRG would provide financial and technical support, strengthening the partnership and aligning with ADNOC’s global LNG portfolio, enhancing collaboration with Eni on international projects.

Argentina’s Vaca Muerta shale play is key to transforming the country into a significant energy exporter, with the ARGLNG project aiming to boost domestic production and meet global LNG demand, particularly in Asia and Europe.

If realized, ARGLNG would elevate Argentina among the top LNG exporters by the next decade, marking a pivotal moment for the nation’s energy sector and opening new opportunities for international oil and gas cooperation.

Read more at Yahoo Finance: Eni, YPF, and ADNOC’s XRG Advance Talks on Argentina LNG Megaproject