$15 Billion Deal Sealed for Argentina LNG Project

JPMorgan Chase and Banco Santander are leading the financing for Argentina LNG, a massive project to liquefy and export the country's shale gas reserves.

The two banks are spearheading an arrangement of around $14 billion to $15 billion, with partners on the project continuing talks with other lenders, including export credit agencies, to complete the funds.

Argentina LNG is a venture led by state-run YPF SA with Italy's Eni SpA and Abu Dhabi's XRG. The offshore LNG terminal on Argentina's Atlantic coast would produce 12 million tons a year, making it one of the biggest so-called floating facilities in the world.

The partners aim to take a final investment decision in late November, according to people familiar with the matter.