General – Partnership
Abu Dhabi National Oil Company (Adnoc) is set to expand its global LNG footprint by joining forces with Italy’s Eni and Argentina’s state-owned energy firm YPF in the ambitious Argentina LNG project.
Eni and YPF have signed a non-binding agreement with XRG, Adnoc’s investment arm, outlining the potential terms of the company’s participation in the large-scale liquefied natural gas venture.
The $50 billion Argentina LNG project aims to harness resources from Argentina’s vast Vaca Muerta shale formation and export up to 30 million tonnes per annum (tpa) of LNG by 2030. The project encompasses both upstream and midstream developments, positioning Argentina as a future key player in global LNG supply.
The initial phase, covering 12 million tpa, will include upstream gas production, transportation infrastructure, and two floating LNG units—each with a capacity of 6 million tpa. The agreement establishes a framework for cooperation and lays the groundwork for a joint development agreement among the three parties.
Argentina LNG is one of two major LNG projects advancing in the country, alongside the Southern Energy project.
Eni and Adnoc are already longstanding strategic partners, having collaborated on several key energy initiatives in the United Arab Emirates and other regions. Eni noted that Adnoc’s participation through XRG could provide crucial support toward reaching a final investment decision (FID) for the Argentina LNG venture.
