$51 Billion Argentina LNG Project Seeks RIGI Approval for Export
Argentina LNG, a project backed by YPF, Eni, and XRG, has applied for inclusion in Argentina's Large Investment Incentive Regime (RIGI) to secure long-term fiscal benefits. The proposed $51 billion integrated development aims to connect natural gas production from the Vaca Muerta shale formation with processing, transportation, and LNG export infrastructure.
The project involves two floating LNG vessels offshore Río Negro province with combined liquefaction capacity of 12 million tonnes per year. YPF expects the vessels to begin operations around 2031. Securing RIGI approval would provide qualifying projects with long-term fiscal, customs, and foreign-exchange benefits.
The application follows several steps by the partners to advance engineering, commercial, and financing work for the project. Eni and XRG agreed to acquire stakes in the upstream company holding gas acreage dedicated to Argentina LNG in June, with each holding 32% and YPF retaining 36%, subject to required approvals.