Argentina LNG has applied to participate in Argentina’s Large Investment Incentive Regime (RIGI) as it pursues the development of an integrated liquefied natural gas (LNG) project valued at $51bn over its lifetime.
The project is located offshore Río Negro in the Gulf of San Matías.
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This would represent the largest private investment in the country’s history and the largest project proposed under the RIGI framework to date.
The project, sponsored by Argentina’s state-owned YPF, Italy-based Eni and ADNOC’s international investment arm, XRG, would transform natural gas resources from the Vaca Muerta formation into LNG for export.
YPF chairman and CEO Horacio Marín said: “Joining the RIGI framework is a fundamental step toward advancing a project that will open a new chapter for Argentina as a global energy exporter.
“We are talking about a growth platform that will generate jobs, technological development, opportunities for local suppliers and an unprecedented level of international integration for our country.”
The scope includes gas production in Neuquén, along with the construction of transportation infrastructure, processing plants and facilities for liquid separation.
It also includes two floating liquefied natural gas (FLNG) units with a combined capacity of 12 million tonnes per annum (mtpa).
The RIGI application is a significant step in advancing the project.
The incentive regime provides legal, fiscal, customs and foreign-exchange stability for large, export-oriented energy infrastructure projects, conditions essential to attracting the required international investment and financing.
The project is expected to generate around $10bn in export revenues per year over 20 years.
Investment is projected to reach $29bn by 2031, the anticipated start-up year for the FLNG units.
Within this phase, $24bn would be directed towards infrastructure including industrial complexes and port facilities, while approximately $5bn is planned for upstream field development and drilling.
From 2026 to 2030, construction activity is expected to generate around 20,000 jobs annually, with the workforce potentially peaking at 40,000 in the project’s third year.
Argentina LNG’s RIGI application is seen as a step towards a final investment decision by the end of 2026.
