$51 Billion Argentine LNG Project Seeks RIGI Investment
Argentina's state oil firm YPF has submitted an application to participate in the country's investment scheme for its integrated liquefied natural gas (LNG) project, which seeks to develop the Vaca Muerta shale formation into LNG exports for the international market. The $51 billion project is backed by YPF along with energy firms Eni and XRG.
The investment plan calls for an initial investment of $29 billion in 2031. The project aims to transform Vaca Muerta's natural gas resources into LNG exports using two floating liquefaction units with a capacity of 12 million tonnes per year offshore Río Negro.
YPF expects the project to generate $10 billion in annual export revenues over two decades. The Incentive Regime for Large Investments (RIGI) launched under President Javier Milei aims to boost investment in key sectors.