$51 Billion Argentina LNG Project Moves Forward with RIGI Application Submission
A major liquefied natural gas (LNG) export project in South America has taken a crucial step towards its final investment decision (FID) by year-end, with the submission of an application to join Argentina's Large Investment Incentive Regime (RIGI). The $51 billion project, promoted by YPF, Eni, and ADNOC's XRG, aims to develop an integrated LNG value chain from upstream gas production to export infrastructure.
The project will include two floating LNG units with a combined liquefaction capacity of 12 million tonnes per year (mtpa) located offshore Río Negro province. The estimated investment is $29 billion by 2031, with $24 billion allocated to developing strategic infrastructure and $5 billion for upstream development.
Hernán Franchina, LNG Commercial Lead at YPF, highlighted the project's significance: 'Argentina LNG, promoted by YPF, Eni and XRG, has submitted its RIGI application: a USD 51 billion integrated project turning Vaca Muerta gas into LNG exports via two FLNG units... The largest private investment in Argentina’s history, and a defining step for the country’s energy future.'