Argentina's YPF Advances 12 Million Tonnes per Year LNG Project with Offtake Contracts Signed for Eurasian Markets

en.Wedoany.com Reported - On November 3, Horacio Marín, CEO of Argentina's state-owned oil company YPF, presented the progress of the Argentina LNG project in Abu Dhabi, UAE, stating that the company is advancing the signing of long-term LNG offtake contracts in European and Asian markets. The project is jointly developed by YPF, Italy's Eni, and the UAE's XRG, with a planned LNG production capacity of 12 million tonnes per year. The final investment decision is scheduled to be made in November 2026.

According to Marín, construction of the project may begin in February 2027, with the first LNG carrier expected to set sail as early as 2030, and the second vessel expected to enter service 6 to 12 months after the first. The project plans to deploy two floating LNG production facilities to process natural gas resources from Argentina's Vaca Muerta Basin into LNG for export.

YPF previously proposed that the first phase of the project would deploy two floating LNG facilities, each with an annual capacity of 6 million tonnes. In September 2026, the company estimated it would sign two to three LNG sales contracts with annual offtake volumes of 500,000 to 1.5 million tonnes each.

Marín also presented the progress of Argentina's crude oil export infrastructure construction, expecting a crude oil export pipeline with a designed transmission capacity of 1 million barrels per day to be completed by the end of 2026.