XRG, the international energy investment division of ADNOC, announced the signing of a non-binding framework agreement with Argentina’s YPF and Italy’s Eni to evaluate its participation in an integrated liquefied natural gas (LNG) project in Sierra Grande Norte, Argentina.
The LNG project in Argentina is a fully integrated development that combines natural gas production from the Vaca Muerta shale basin with offshore liquefaction using floating liquefied natural gas technology.
The initial phase of the project is expected to generate a production capacity of 12 million tonnes per annum (mtpa) of LNG using two vessels with a capacity of 6 mtpa each.
Mohamed Al Aryani, President of International Gas at XRG, stated that “Argentina’s LNG potential is truly transformative. By joining forces with Eni’s world-class FLNG capabilities and YPF’s proven leadership in the upstream sector, we seek to set new standards of innovation, scale, and reliability in the international gas market. XRG is committed to delivering sustainable energy solutions that generate lasting value for our shareholders, partners, and communities.”
The non-binding framework agreement adds to XRG’s recent investments in the Rovuma Basin in Mozambique, Block 1 in Turkmenistan, Arcius Energy in Egypt, Absheron in Azerbaijan, and the Rio Grande LNG project in the United States.
