The Argentina LNG project is advancing toward a final investment decision following a new agreement between Eni and YPF. Signed during a meeting between Argentine President Javier Milei and Italian Prime Minister Giorgia Meloni, the deal marks a major milestone in the development of Argentina’s large-scale liquefied natural gas export ambitions.
Eni and Argentina’s state energy firm YPF have agreed on next steps to develop the Argentina LNG (ARGLNG) project, a key move toward finalizing investments for the nation’s first large-scale liquefied natural gas export operation. The agreement lays the groundwork for Phase 1 of the project, including natural gas production, processing, transportation, and liquefaction via floating LNG (FLNG) units.
This phase is designed for an initial capacity of 12 million tons of LNG annually, sourced from Argentina’s rich Vaca Muerta shale formation. With global demand for LNG rising, ARGLNG aims to expand output over time, reaching up to 30 million tons per year by 2030.
Eni brings global experience to the table, particularly in floating LNG projects, having delivered similar initiatives in Congo and Mozambique. Its selection reflects Argentina’s focus on choosing a technically capable and timely partner to execute this high-stakes energy venture.
The partnership builds on a Memorandum of Understanding signed in April 2025, reinforcing Eni’s strategy to boost natural gas production while advancing energy transition goals. The company has committed to achieving net-zero emissions by 2050 and sees this project as part of its broader efforts to support international energy security and diversify supply chains.
As the Argentina LNG project progresses, it’s poised to play a transformative role in the country’s energy landscape and position Argentina as a key LNG exporter on the global stage.