Argentina’s state-owned YPF is finalizing several liquefied natural gas (LNG) sales contracts for its planned $24 billion export facility. CEO Horacio Marín expects to sign two to three agreements. Each deal will cover 500,000 to 1.5 million metric tons per year.
These deals are a prerequisite for a final investment decision scheduled for November. The Argentina LNG project is a joint venture between YPF, Italy’s Eni, and Abu Dhabi’s XRG.
The facility will process natural gas from the Vaca Muerta shale formation for global markets. The initial phase features two floating LNG units. These units have a combined capacity of 12 million tons per year.
A new pipeline will connect the shale fields to the Atlantic coast. The project aims to meet rising demand from international buyers seeking to diversify their energy supplies.