JPMorgan, Santander Lead Financing for Argentina LNG Project

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

The two banks are spearheading an arrangement of around $14 billion to $15 billion for the project, which is estimated to total $24 billion.

The partners on the project continue talks with other lenders, including export credit agencies, to complete the funds.

The offshore LNG terminal on Argentina's Atlantic coast would produce 12 million tons a year, making it one of the biggest floating facilities in the world.