Eni's CEO, Claudio Descalzi, and the President and CEO of YPF, the State Energy Company of the Republic of Argentina, Horacio Daniel Marín, have signed a memorandum of understanding (MoU) to evaluate Eni's participation in the Argentina LNG project, promoted by YPF.
Argentina LNG is a large scale upstream and midstream integrated gas development project, designed to develop the resources of the ‘Vaca Muerta’ onshore gas field and serve international markets through exporting in various phases up to 30 million tpy of LNG by the end of the decade.
The project phase covered by the MoU between Eni and YPF relates to the development of upstream, transportation, and gas liquefaction facilities through two floating LNG (FLNG) units of 6 million tpy each, for a total of 12 million tpy.
Descalzi stated: “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.”
Marín added: “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.”