Eni: Descalzi says final investment decision on Argentina LNG project to be made on 26 November

Announcement made by YPF’s chief executive, Horacio Marin

(Il Sole 24 Ore Radiocor) - The final investment decision for the Argentina LNG project is scheduled for 26 November in Buenos Aires. This was confirmed by Eni’s chief executive, Claudio Descalzi, following the announcement by YPF’s chief executive, Horacio Marin, during his address at Argentina Week, the forum organised by the Argentine Government in Paris, at the OECD headquarters, to present investment opportunities in the country alongside President Javier Milei. They took part in the opening panel, entitled “The Argentina LNG Project: the largest investment in the country’s history”, which focused on the Vaca Muerta basin project, involving the construction of two floating liquefaction plants (FLNGs).

"Argentina LNG will be one of the largest LNG projects in the world, with $50 billion in investment and a further $25 billion in operating costs over 25 years. “This figure relates to the 12 million tonnes per year of LNG that we are currently developing, but the field has a potential exceeding 20 million tonnes,” Descalzi clarified. He went on to explain: “We are well on track; we are finalising the contracts for the construction of the two FLNG vessels and are finalising the project’s financing. The date of 26 November announced by Marín for the FID is highly likely; we are working hard, and very effectively, with YPF and XRG to achieve this objective.”

"Construction of the two FLNGs will begin immediately after the FID, with the first 6 MTPA floater due for completion in 2030 and the second in 2031."

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