YPF Seeks LNG Buyers for $24 Billion Vaca Muerta Project
Argentina's state-controlled energy company YPF is nearing agreements with buyers for its planned Argentina LNG project, a key step toward securing the final investment decision (FID) expected in November. CEO Horacio Marín announced at the Gastech conference that the firm aims to sign two or three long-term contracts covering 0.5–1.5 million tonnes per year each before FID is reached. The $24 billion project, a joint venture with Eni and XRG, will develop LNG production from Argentina's Vaca Muerta shale formation using floating facilities capable of producing up to 18 million tonnes annually. A dedicated pipeline will transport gas from the site to Río Negro province on the Atlantic coast. YPF holds a 36% stake in upstream blocks feeding the project. The company is also seeking financing, with lenders expected to provide letters of intent ahead of FID. The timing aligns well as Asian buyers seek diversified LNG sources due to supply disruptions from the Persian Gulf.
Tickers: $YPF
Topics: energy infrastructure international markets lng