The President of the Republic of Argentina, Javier Milei, met October 2 in Paris with Eni Chief Executive Officer Claudio Descalzi on the sidelines of the institutional and industrial events organized as part of Argentina Week. During the meeting, the parties discussed prospects for cooperation in the energy sector and investment opportunities in Argentina, with particular focus on the development of the country’s gas resources and projects aimed at strengthening its role in international energy markets.
The meeting provided an opportunity to take stock of the Argentina LNG project, developed by Eni together with YPF and XRG, that aims to exploit the resources of the Vaca Muerta basin through floating liquefaction solutions (FLNG). The project, for which an investment decision is expected by the end of the year, envisages, in an initial phase the production of 12 million tonnes of liquefied natural gas per year (MTPA), through two FLNG facilities with a capacity of 6 MTPA each. Start-up of production is planned in 2030. A subsequent expansion to 18 MTPA is currently under evaluation.
Argentina LNG is one of the most important energy projects currently under development globally; it involves significant investments and represents a strategic initiative to support the growth of the country’s energy exports and contribute to the security of European energy supplies.
The discussion also reaffirmed the importance of promoting a stable and investment-friendly framework for long-term investments, an essential condition for the development of large-scale energy infrastructure projects and for maximizing the value of Argentina’s natural resources.
Eni has been present in Argentina at various stages since 1968. The company operates in the country in the hydrocarbons exploration and production sector and is a partner of YPF and XRG in the development of the integrated Argentina LNG project, which includes a 32% interest in the upstream blocks Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas, in the Vaca Muerta basin.
Source: Eni
