Eni, YPF and ADNOC’s XRG signed a non‑binding framework agreement to develop an LNG project in Argentina’s Vaca Muerta shale basin. The project will use two floating liquefied natural gas (FLNG) vessels, each with a 6 mtpa capacity, for an initial 12 mtpa of LNG production.
The agreement follows a memorandum of understanding signed on 14 April 2025 and a head of agreement in June 2025. The parties plan to deliver up to 30 mtpa of LNG by 2030, with a final investment decision expected later in 2025.
Eni brings FLNG expertise from Mozambique and Congo, YPF leads the project with its Vaca Muerta assets, and XRG, ADNOC’s investment arm launched in November 2024, will provide capital and a low‑carbon focus.
The partnership aligns with Eni’s strategy to expand its LNG portfolio and achieve carbon neutrality by 2050, YPF’s goal to monetize its gas reserves and boost Argentina’s LNG exports, and XRG’s objective to build a global gas portfolio.
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