Eni and YPF Sign Agreement on Argentina LNG Project
Italian energy group Eni and Argentina’s YPF have inked a significant agreement on the Argentina LNG project. The deal was finalized during a meeting in Rome between Italian Prime Minister Giorgia Meloni and Argentine President Javier Milei.
Eni will play a crucial role as a strategic partner of YPF in the Argentina LNG project. The company plans to leverage its expertise gained from its successful floating LNG projects in Congo and Mozambique. This partnership aims to harness the resources of the onshore Vaca Muerta field and cater to international markets.
The Argentina LNG project is slated to export up to 30 million tons per year of liquefied natural gas (LNG) by 2030. The initiative will adopt a phased approach to ensure effective execution and sustainable growth.
This collaboration signifies a significant step towards enhancing Argentina’s presence in the global LNG market. By combining Eni’s technical proficiency with YPF’s local insights, the project is poised for success in meeting the rising demand for LNG worldwide.
With this agreement, Eni and YPF are set to embark on a transformative journey in the LNG sector, paving the way for greater energy security and economic prosperity for both Argentina and the international community.
(Reuters/Reporting by Francesca Landini, editing by Gianluca Semeraro)