The Italian energy giant Eni and Argentina’s leading energy company YPF have signed a key agreement to advance the Argentina LNG (ARGLNG) project. The agreement was signed during a meeting between Argentine President Javier Milei and Italian Prime Minister Giorgia Meloni.

The agreement outlines the necessary steps to reach a final investment decision for the project’s next phase which includes developing the infrastructure for gas production, treatment, transportation, and liquefaction using floating liquefied natural gas (FLNG) units, with a planned capacity of 12 million tons of LNG per year.

Argentina LNG is a large-scale, integrated gas project focused on tapping the vast resources of the onshore Vaca Muerta shale formation. Aimed at supplying international markets, the project is expected to gradually scale up to export 30 million tons of LNG annually by 2030.

Eni was selected to contribute in this project as a strategic partner due to its extensive experience in FLNG developments in Congo and Mozambique, as well as its global leadership in delivering complex energy infrastructure projects efficiently and on schedule.

This agreement builds on the Memorandum of Understanding (MoU) signed on April 14, 2025, and marks another important milestone in the development of ARGLNG. 

It aligns with Eni’s broader strategy to support the energy transition through increased gas production while targeting carbon neutrality by 2050 and enhancing global energy security and competitiveness.