Buenos aires: XRG, the international energy investment arm of ADNOC, has announced the signing of a non-binding framework agreement with Argentina's YPF and Italy's Eni to explore participation in an integrated liquefied natural gas (LNG) project in Argentina. This agreement is part of XRG's strategy to develop a leading global gas portfolio and enhance its presence across the Americas.

According to Emirates News Agency, the Argentina LNG project will be an integrated development that combines upstream gas production from the Vaca Muerta shale basin with offshore liquefaction using floating liquefied natural gas (FLNG) technology. The project is set to benefit from the extensive experience of the partners in developing FLNG facilities, drawing on Eni's expertise in Mozambique, where XRG is also involved.

XRG aims to leverage its technical expertise, commercial strength, and track record of delivering energy solutions to expedite the success of the Argentina LNG project. The initial phase is projected to deliver 12 million tonnes per annum (mtpa) of LNG production capacity via two 6 mtpa FLNG vessels.

Mohamed Al Aryani, President of International Gas at XRG, stated that Argentina's LNG potential holds significant promise. By collaborating with Eni's FLNG capabilities and YPF's upstream leadership, the partnership seeks to establish new standards for innovation, scale, and reliability in the global gas market. XRG is dedicated to providing sustainable energy solutions that offer lasting value to shareholders, partners, and communities.

The non-binding framework agreement, finalized during ADIPEC 2025, follows XRG's recent investments in Mozambique's Rovuma Basin, Block-1 Turkmenistan, Arcius Energy in Egypt, Absheron in Azerbaijan, and the Rio Grande LNG project in the United States. This reinforces its goal to become a prominent global gas player.