Eni and YPF, Argentina's leading energy company, today signed a non-binding agreement with XRG, part of the ADNOC Group, regarding the company's potential involvement in the 12 MTPA liquefied natural gas (LNG) phase of the integrated upstream-midstream Argentina LNG (ARGLNG) project.

ARGLNG is a large-scale, integrated upstream and midstream gas development project designed to develop the resources of the onshore "Vaca Muerta" field and serve international markets, exporting up to 30 million tonnes of LNG per year in various independent phases by 2030.

As established by the Final Technical Project Description signed on October 10 by Eni and YPF, the project involves gas production, processing, transportation, and liquefaction for export through two floating gas liquefaction units (FLNG) with a capacity of 6 MTPA (million tons per year, equivalent to approximately 9 billion cubic meters of gas per year) each, as well as the valorisation and export of associated liquids.

Today’s agreement establishes a framework for cooperation between the parties, with the aim of signing a Joint Development Agreement (JDA) for ARGLNG.

Eni and ADNOC are strategic partners, having previously collaborated on key projects in the United Arab Emirates and other geographies. Involvement as a potential partner in the project is expected to support the Final Investment Decision.

About Eni

Eni is a global energy tech company operating in 64 Countries, with about 32,500 employees. Originally an oil & gas company, it has evolved into an integrated energy company, playing a key role in ensuring energy security and leading the energy transition. Eni's goal is to achieve carbon neutrality by 2050 through the decarbonization of its processes and of the products it sells to its customers.
In line with this goal, Eni invests in the research and development of technologies that can accelerate the transition to increasingly sustainable energy. Renewable energy sources, bio-refining, carbon capture and storage are only some examples of Eni's areas of activity and research. In addition, the company is exploring game-changing technologies such as fusion energy - a technology based on the physical processes that power stars and that could generate safe, virtually limitless energy with zero emissions.