Camuzzi Gas Inversora has signed a memorandum of understanding (MoU) with Vitol regarding its LNG del Plata project in Argentina, under which the commodity trading company may purchase the facility’s entire output and consider taking an equity stake.

The liquefied natural gas (LNG) project is currently fully owned by Camuzzi and is being developed at the Port of La Plata in Buenos Aires Province.

It is expected to require $3.9bn (5.52tn pesos) in investment over a 20-year period.

The LNG del Plata project will serve a dual purpose, supporting LNG exports while increasing domestic supply during peak-demand periods in Argentina.

It is designed to use infrastructure connected to the Vaca Muerta shale formation in the Neuquén Basin.

The project aims to export more than 2.4 million tonnes per annum (mtpa) of LNG, which corresponds to over nine million cubic metres of natural gas per day.

Construction on the LNG project is scheduled to begin this year, with operations due to start in 2028.

According to Camuzzi Gas Inversora’s president, Alejandro Macfarlane, the project is expected to create 500 direct roles and will contribute more than $14.5bn in foreign currency from its LNG exports during its 20 years of operation.

The project’s initial phase involves building new transportation links to route gas from Buchanan to Ensenada in Buenos Aires Province.

Plans for the project also include a 10km underwater pipeline and an offshore platform for mooring the liquefaction vessel.

In a separate agreement in February 2026, Eni, YPF and ADNOC’s international investment division, XRG, signed a binding joint development agreement for the Argentina LNG project.

This seeks to make use of gas resources from the Vaca Muerta basin with the aim of establishing Argentina as a significant player within the international LNG market.