Eni signs MoU on joining YPF's Argentina LNG project

Eni signs MoU on joining YPF’s $50-billion Argentina LNG project

BUENOS AIRES, April 14, 2025 – Eni has signed an MoU on joining a phase of YPF’s USD 50-billion Argentina LNG project, the companies announced on Monday.

The phase covered by the MoU includes the development of upstream, transportation and gas liquefaction infrastructure through two floating LNG units with a total capacity of 12 million tonnes per year.

The agreement was signed by Eni CEO Claudio Descalzi and YPF president and CEO Horacio Daniel Marín and outlines the potential for Eni to participate in the large-scale upstream and midstream gas development aimed at monetising resources from the Vaca Muerta onshore gasfield. The project targets LNG exports of up to 30 million tonnes per year by the end of the decade.

“YPF’s choice of Eni as a strategic partner stems from the specific and distinctive know-how we have developed in FLNG projects in Congo and Mozambique, and from the recognition of our global leadership in implementing projects with this technology,” Eni CEO Claudio Descalzi said.

“We are very pleased to sign this agreement with Eni, which would allow us to accelerate the timeline for the Argentina LNG project. We see great interest worldwide, both from large production companies and from countries seeking to purchase gas from Vaca Muerta,” YPF president and CEO Horacio Daniel Marín said.

The MoU is in line with Eni’s decarbonisation strategy, which supports increased gas production, lower emissions and long-term energy security, with a target of carbon neutrality by 2050.

In December, YPF signed a deal with Shell to develop phase one of the project, which targets 10 million tonnes per year.

Photo courtesy of Eni

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