Eni CEO Descalzi Meets Milei as Argentina LNG Project Nears Investment Decision

Eni CEO Claudio Descalzi met with Argentine President Javier Milei in Paris to discuss the progress of the Argentina LNG project. The meeting focused on developing Argentina's natural gas resources and expanding its position in international energy markets, according to Eni.

The Argentina LNG project is being developed by Eni, state-controlled YPF, and Abu Dhabi-based XRG. It aims to monetize Vaca Muerta gas through an integrated production, processing, transportation, and export system. The initial development would have LNG production capacity of 12 million tonnes per annum using two floating LNG facilities capable of producing 6 million tonnes annually each.

Production is currently scheduled to begin in 2030, while the partners are evaluating an expansion that could lift capacity to 18 million tonnes per year. Eni has steadily advanced the project during 2026, with key milestones including a binding joint development agreement signed in February and the acquisition of a 32% interest in several Vaca Muerta blocks in June.