ADNOC’s XRG is eyeing participation in the 12-million-tpy Argentina LNG project.

Eni, YPF and ADNOC’s XRG ink agreement for Argentina LNG project

BUENOS AIRES, November 6, 2025 – ADNOC investment powerhouse XRG is eyeing participation in the 12-million-tpy Argentina LNG project and has signed a preliminary deal with Eni and YPF, the companies said on Tuesday.

The project, which targets 30 million tonnes of LNG exports annually by 2030, will develop gas from the onshore Vaca Muerta field and include production, processing, transportation and liquefaction via two FLNG units each with 6 MTPA capacity.

The new accord provides a framework for a Joint Development Agreement for the ARGLNG project, following a Final Technical Project Description signed by Eni and YPF on October 10.

The agreement is a further step in advancing the project towards an FID.

“Argentina’s LNG potential is truly transformative,” Mohamed Al Aryani, XRG’s president of International Gas, said.

“By joining forces with Eni’s world-class FLNG capabilities and YPF’s proven upstream leadership, we aim to set new benchmarks for innovation, scale, and reliability in the international gas market. XRG is committed to delivering sustainable energy solutions that create lasting value for our shareholders, partners and communities.”

Eni and ADNOC have partnered in prior energy developments in the UAE and globally. ADNOC’s XRG unit, launched in November 2024, focuses on investing in LNG and gas-related developments internationally as part of the UAE’s energy transition strategy.

YPF is Argentina’s state-backed energy player engaged in upstream, downstream and gas operations across the country, including exploration and production in Vaca Muerta.

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