XRG has entered into a non-binding framework agreement with Argentina’s YPF and Italy’s Eni to explore participation in a fully integrated liquefied natural gas (LNG) project in Argentina. The partnership marks a significant milestone in XRG’s ongoing efforts to expand its global gas portfolio and enhance its presence across the Americas.
The Argentina LNG project combines upstream gas production from the Vaca Muerta shale basin with offshore liquefaction using floating LNG (FLNG) technology. By integrating these elements, the partners aim to create a seamless and efficient value chain that supports Argentina’s growing energy ambitions.
Leveraging Global Expertise for Expansion
The project is expected to draw on the collective experience of all three companies. Eni’s proven success with FLNG operations in Mozambique, where XRG is also involved, will play a key role in ensuring strong technical execution. In addition, XRG plans to leverage its commercial strength, technical expertise, and proven track record of delivering innovative energy solutions. Together, these strengths could accelerate the project’s development and improve its long-term viability.
The first phase aims to achieve a total production capacity of 12 million tonnes per annum (mtpa), accomplished through two FLNG vessels, each capable of producing 6 million tonnes per annum. This scale positions the initiative as one of the most ambitious LNG ventures in the region.
Commitment to Sustainable Growth
Mohamed Al Aryani, President of International Gas at XRG, said, “Argentina’s LNG potential is truly transformative. By joining forces with Eni’s world-class FLNG capabilities and YPF’s proven upstream leadership, we aim to set new benchmarks for innovation, scale, and reliability in the international gas market. XRG is committed to delivering sustainable energy solutions that create lasting value for our shareholders, partners and communities.”
Signed during ADIPEC 2025, the agreement follows several recent investments by XRG, including ventures in Mozambique, Turkmenistan, Egypt, Azerbaijan, and the United States. Collectively, these moves demonstrate the company’s clear ambition to become a leading global player in the natural gas sector while continuing to pursue sustainable and strategic growth worldwide.
