Eni and YPF sign a Memorandum of Understanding for the joint evaluation of a phase of the Argentina LNG project

Claudio Descalzi, CEO of Eni, and Horacio Daniel Marín, President and CEO of YPF—Argentina’s state energy company—have signed a Memorandum of Understanding (MoU) to assess Eni’s potential participation in the Argentina LNG project, led by YPF.

The Argentina LNG initiative is a large-scale integrated gas development project aimed at unlocking the vast potential of the Vaca Muerta onshore gas field. The project envisions the phased export of up to 30 million tons of liquefied natural gas (LNG) per year by the end of the decade, targeting international markets.

The scope of the MoU focuses on the development of upstream resources, transportation infrastructure, and gas liquefaction through two Floating LNG (FLNG) units, each with a capacity of 6 MTPA—together accounting for 12 MTPA.

“YPF’s selection of Eni as a strategic partner is rooted in our proven expertise and innovative capabilities in FLNG developments, particularly in Congo and Mozambique, and reflects our recognized global leadership in delivering such projects,” said Claudio Descalzi.

Horacio Daniel Marín added, “This agreement with Eni represents a significant step forward, enabling us to accelerate progress on the Argentina LNG project. We are seeing substantial global interest from both major producers and countries looking to secure gas from Vaca Muerta.”

The agreement aligns with Eni’s broader strategy to support the energy transition by expanding natural gas production and reducing emissions, while also enhancing energy security and market competitiveness. Eni remains committed to its goal of achieving carbon neutrality by 2050.