Abu Dhabi, UAE – November 4, 2025

Key takeaways
First phase of project expected to deliver 12 mtpa of LNG capacity

Project in South America would add to XRG’s geographically diverse portfolio of gas and LNG investments in Africa, Asia and North America

XRG, the international energy investment arm of ADNOC, today announced the signing of a non-binding framework agreement with Argentina’s YPF and Italy’s Eni to evaluate participation in an integrated liquefied natural gas (LNG) project in Argentina. The agreement marks another significant step in XRG’s strategy to build a top-tier global gas portfolio and expand its footprint across the Americas.

The Argentina LNG project is a fully integrated development combining upstream gas production from the Vaca Muerta shale basin with offshore liquefaction using floating liquefied natural gas (FLNG) technology. The project is expected to leverage the partners’ extensive experience in developing FLNG facilities, including Eni’s track record in Mozambique, where XRG is also a partner. XRG intends to contribute its technical know-how, commercial strength and a track record of delivering reliable, innovative energy solutions to accelerate the success of the Argentina LNG project.

The project’s initial phase is expected to deliver 12 million tonnes per annum (mtpa) of LNG production capacity through two 6 mtpa FLNG vessels.

Mohamed Al Aryani, President of International Gas, XRG, said: “Argentina’s LNG potential is truly transformative. By joining forces with Eni’s world-class FLNG capabilities and YPF’s proven upstream leadership, we aim to set new benchmarks for innovation, scale, and reliability in the international gas market. XRG is committed to delivering sustainable energy solutions that create lasting value for our shareholders, partners and communities.”

The non-binding framework agreement, signed 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, reinforcing its ambition to become a leading global gas player.