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Adnoc's XRG to Acquire Upstream Assets to Supply Argentina LNG Project
The deal gives XRG and Eni each 32% of three upstream blocks that will help supply a planned 12 million-tonne LNG project.
- On Monday, Abu Dhabi's XRG and Italy's Eni signed agreements with Argentina's state oil company YPF to acquire minority stakes in three upstream blocks in the Vaca Muerta basin.
- The Meseta Buena Esperanza, Aguada Villanueva, and Las Tacanas blocks are essential to the integrated Argentina LNG project, which targets a production capacity of 12 million tons per annum.
- XRG and Eni will each acquire a 32% stake in the blocks, while YPF will retain the remaining 36% shareholding.
- Calling Vaca Muerta "one of the world's most attractive gas resources," Mohamed Al Aryani, president of international gas at XRG, said the investment advances a significant new LNG supply source.
- The International Energy Agency reports that Middle East conflicts caused the loss of roughly 120 billion cubic metres of cumulative LNG supply for the 2026-2030 period, accounting for around 15 per cent of expected global supply.
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YPF today took an important step in its plan to make Argentina one of the world's largest exporters of liquefied natural gas (LNG).The state-owned company signed agreements with two international partners — the Italian Eni and the Emirati XRG — to both join as producing partners in the deposits of Vaca Muerta that will supply the Argentina LNG project, the country's most ambitious energy export initiative.LNG is natural gas that cools at extreme…
·Buenos Aires, Argentina
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Coverage Details
Total News Sources18
Leaning Left1Leaning Right2Center2Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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