Argentina's $24 Billion LNG Export Plan Takes Shape Ahead of November Decision

YPF, Argentina's state-owned energy company, is on track to finalize two to three liquefied natural gas (LNG) offtake deals with international partners. According to YPF's CEO Horacio Marin, these agreements will span between 0.5 million and 1.5 million tons annually.

The LNG export project, called Argentina LNG, involves a partnership between YPF, Italy's Eni SpA, and Abu Dhabi's XRG. The trio plans to build a floating export terminal off Argentina's Atlantic shoreline capable of producing 12 million tons per year, making it one of the largest floating LNG facilities in the world.

The project's investment decision is set for November, but Marin noted that the financing for the $24 billion price tag may not be fully secured by then. He stated that there will be letters of intent from lenders, indicating their commitment to complete the process.