Claudio Descalzi, CEO of Eni, and Horacio Daniel Marín, President and CEO of YPF, the state-owned energy company of Argentina, signed a Memorandum of Understanding (MoU) on April 14, 2025, to assess Eni’s participation in the Argentina LNG project, led by YPF, according to the company's release.
The Argentina LNG project is an integrated upstream and midstream gas development initiative focused on the Vaca Muerta onshore gas field, targeting exports of up to 30 million tons per year (MTPA) of liquefied natural gas (LNG) by the end of the decade.
The MoU covers a project phase involving the development of upstream facilities, transportation infrastructure, and gas liquefaction through two Floating LNG units, each with a capacity of 6 MTPA, for a total of 12 MTPA.
The MoU aligns with Eni’s strategy to promote energy transition, support gas production development, reduce emissions to achieve carbon neutrality by 2050, and address energy supply security and competitiveness.
Eni S.p.A., headquartered in San Donato Milanese, Italy, is an integrated energy company operating across the entire energy value chain. Its activities include exploration, development, and production of oil and natural gas, as well as power generation from renewable and conventional sources. Eni also engages in refining, petrochemicals, and marketing of energy products and services. The company operates in over 60 countries, with a focus on innovation, sustainability, and energy transition.
YPF S.A. is Argentina’s state-owned energy company, based in Buenos Aires. Founded in 1922, it is one of the largest integrated oil and gas companies in Latin America, involved in exploration, production, refining, and marketing of petroleum products, as well as natural gas and petrochemicals. YPF plays a central role in developing Argentina’s energy resources, particularly the Vaca Muerta shale formation, one of the world’s largest unconventional oil and gas reserves. The company operates across Argentina and has partnerships with global energy firms to enhance its production and export capabilities, including the Argentina LNG project.