Eni, YPF Sign Deal With ADNOC Unit XRG for Participation in Argentina LNG Project

MT Newswires Live11-04

Eni (E) and Argentine energy company YPF (YPF) said Tuesday they have signed a non-binding agreement with ADNOC Group unit XRG regarding XRG's potential involvement in the 12 MTPA liquefied natural gas phase of the Argentina LNG, or ARGLNG, project.

Financial details were not provided.

The agreement sets up a framework for cooperation between the companies, with the goal of signing a joint development agreement for the ARGLNG project, Eni said.

The ARGLNG integrated upstream and midstream gas development project is designed to develop the resources of the onshore Vaca Muerta field and sell to global markets, with exports of up to 30 million tonnes of LNG a year in several phases by 2030, Eni said.

Price: 36.33, Change: -0.30, Percent Change: -0.82

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