Eni, YPF and XRG signed a Joint Development Agreement advancing Argentina LNG project
Argentina’s LNG ambitions took a major step forward on February 12th 2026 as YPF, Eni, and XRG signed a binding Joint Development Agreement (JDA) to advance the Argentina LNG project—an integrated initiative designed to unlock the vast potential of the Vaca Muerta shale basin, one of the world’s most promising unconventional gas resources.
According to multiple official communications, the agreement marks a critical milestone toward Final Investment Decision (FID) targeted for 2H 2026.
The Argentina LNG project is set to deliver: 12 million tons per annum (MTPA) of LNG capacity via two floating LNG (FLNG) units, each with 6 MTPA capacity. This project will be fully integrated across upstream production, processing, transportation and liquefaction infrastructure.
This scale positions Argentina to become one of the leading global LNG exporters, reshaping the country’s long term energy export capabilities.
The JDA formalizes the full entry of XRG, the international gas investment arm also connected with ADNOC's global energy strategy. Their inclusion strengthens the consortium’s technical and financial depth, enhancing the project’s viability in global markets.
The agreement initiates the next development phase:
FEED and technical structuring
Commercial framework development
Financing workstreams
For the FLNG community, this project is particularly notable: it combines large-scale shale gas monetization with floating liquefaction—a model increasingly relevant for speed, flexibility, and reduced onshore footprint.
It could become one of the largest FLNG-based export systems ever deployed.
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