Commodities
JPMorgan, Santander Lead $14-15 Billion Financing for Argentina LNG Project
Argentina's landmark LNG project has secured significant financing from JPMorgan Chase & Co. and Banco Santander SA, two of the world's leading banks. The duo is spearheading a $14 billion to $15 billion funding arrangement for the project, which aims to liquefy and export Argentina's shale gas reserves.
The estimated total cost of the project stands at $24 billion. While JPMorgan and Santander are leading the financing efforts, they continue talks with other lenders, including export credit agencies, to complete the funds.
No final decision has been made on the funding, and plans may change, according to people familiar with the matter who wish to remain anonymous discussing private negotiations.