Commodities
Argentina's Río Negro LNG Project Secures Major Financing Milestone
JPMorgan and Santander are leading talks to finance the $24 billion Río Negro LNG project in Argentina, aiming for a $15 billion debt package.
The integrated project will convert Vaca Muerta's shale gas resources into liquefied natural gas (LNG) for international markets, with two floating liquefaction units providing 6 million tonnes of annual capacity each.
The project's development cost is estimated at $24 billion, and the financing package ranges between $14 billion and $15 billion. The partners are continuing discussions with additional lenders, including export credit agencies, to complete the financing structure.