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 the country's shale gas reserves.

The two banks are spearheading an arrangement of around $14 billion to $15 billion, according to people familiar with the matter.

Argentina LNG is a venture led by state-run YPF with Italy's Eni and Abu Dhabi's XRG. The three energy firms hold roughly equal equity stakes.

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.