Italian energy company Eni and Argentina’s state-owned petroleum firm YPF have signed an agreement concerning participation in the Argentina LNG (ARGLNG) project, according to the company's release.
The deal was formalized during a meeting between Argentine President Javier Milei and Italian Prime Minister Giorgia Meloni.
The agreement sets out the necessary steps to finalise the investment decision for the project phase that covers production, processing, transportation and liquefaction of gas using floating LNG (FLNG) units, with an initial installed capacity of 12 million tonnes per annum (Mtpa).
ARGLNG is a large‑scale, integrated upstream and midstream gas development initiative focused on leveraging Vaca Muerta’s onshore resources.
The project is designed to serve international markets, aiming to ramp up LNG exports to 30 Mtpa by 2030 through a phased approach.
Eni’s selection as a strategic partner is based on its FLNG expertise, including prior projects in Congo and Mozambique, along with its global leadership in comparable technological deployments and recognised execution capabilities.
This agreement follows the memorandum of understanding signed on 14 April 2025 and marks a strategic step toward project maturity.
Eni S.p.A. is an Italian multinational energy company headquartered in Rome. It operates across exploration, production, refining, and marketing of oil and gas fuels, alongside renewable energy initiatives.
YPF (Yacimientos Petrolíferos Fiscales) is Argentina’s state-controlled oil and gas corporation. It manages exploration, production, refining and distribution within Argentina.