Argentina LNG Project Clears Major Hurdle with RIGI Application Submission
A major liquefied natural gas (LNG) export project in South America has made significant progress toward a final investment decision. The Argentina LNG project, promoted by YPF, Eni, and ADNOC's XRG, submitted its application to join the Large Investment Incentive Regime (RIGI), paving the way for a $51 billion investment.
The project aims to develop an integrated LNG value chain in Vaca Muerta, including upstream gas production, transportation, processing, and two floating LNG units with a combined liquefaction capacity of 12 million tonnes per year. Eni described the RIGI application as an important milestone toward the final investment decision, targeted for the end of 2026.
According to YPF's LNG Commercial Lead, Hernan Franchina, the project represents an integrated initiative that will turn Vaca Muerta gas into LNG exports via two FLNG units. This is expected to generate approximately $10 billion in annual export revenue over two decades and create up to 40,000 jobs at peak construction.