Argentina’s YPF to announce European LNG deals

This was revealed by Guillermo Francos, Argentina’s cabinet chief within President Javier Milei’s administration, via his official X account on Tuesday.

Francos met with YPF CEO Horacio Marin to discuss the progress of the planned Argentina LNG project.

He said that YPF managed to close commercial agreements for up to 15 million tons per year of LNG following a successful tour in Asia.

Francos said the deals would translate into about $7 billion a year for Argentina in LNG exports.

Also, in the coming weeks, new sales contracts will be announced with European energy companies for up to 4 million tons of LNG, he said, without providing further details.

Indian firms, Shell

Last week, YPF signed a memorandum of understanding with Indian firms for the planned Argentina LNG export project.

According to YPF, the firm signed the MoU with GAIL, Oil India, and ONGC Videsh for the potential export of up to 10 million tons per year of LNG to India.

This MoU followed a deal with UK-based LNG giant Shell.

In December 2024, YPF and Shell signed a project development agreement (PDA) for the first phase of the Argentina LNG export project.

The PDA means that Shell will join the LNG project.

With Shell entering into the development of the first phase of the Argentina LNG Project, Petronas’ participation as a partner of YPF has come to an end.

YPF said at the time that the company and Shell will commit to mature the development of the first phase of the Argentina LNG project towards a decision to enter the front-end engineering and design (FEED) stage.

The first phase has a liquefaction capacity of 10 mtpa.

According to the Argentina LNG website, during its first phase, the project would have two floating liquefaction units with a production capacity of 10 mtpa.

The second phase includes the construction of a 10 mtpa onshore modular liquefaction plant, while the third phase entails an expansion of the onshore plant with new liquefaction trains for an additional 10 mtpa.