By Christie U. Omonigho
Eni and the Argentina’s leading energy company – YPF said they have signed a non-binding agreement with XRG, part of the ADNOC Group, regarding the company’s potential involvement in the 12 MTPA liquefied natural gas (LNG) phase of the integrated upstream-midstream Argentina LNG (ARGLNG) project.
EWI Publishers gathers that ARGLNG is a large-scale, integrated upstream and midstream gas development project designed to develop the resources of the onshore “Vaca Muerta” field and serve international markets, exporting up to 30 million tonnes of LNG per year in various independent phases by 2030.
Eni explains that as already established by the Final Technical Project Description signed on October 10 by Eni and YPF, the project involves gas production, processing, transportation, and liquefaction for export through two floating gas liquefaction units (FLNG) with a capacity of 6 MTPA (million tons per year, equivalent to approximately 9 billion cubic meters of gas per year) each, as well as the valorization and export of associated liquids.
“This agreement establishes a framework for cooperation between the parties, with the aim of signing a Joint Development Agreement.”
Eni said: “We and ADNOC are strategic partners, having previously collaborated on key projects in the United Arab Emirates and other geographies. Involvement as a potential partner in the project is expected to support the Final Investment Decision.”