Eni has signed a memorandum of understanding (MOU) with YPF to explore potential participation in the Argentina LNG (liquefied natural gas) project.

The MOU was signed by Eni’s CEO, Claudio Descalzi, and YPF president and CEO Horacio Daniel Marín.

The MOU outlines collaboration on the development of upstream, transportation and liquefaction facilities through two floating LNG units with a combined capacity of 12mtpa.

Descalzi stated: “YPF’s choice of Eni as a strategic partner stems from the specific and distinctive know-how we have developed in FLNG [floating LNG] projects in Congo and Mozambique, and from the recognition of our global leadership in implementing projects with this technology.”

This agreement aligns with Eni’s strategy to support the energy transition by enhancing gas production and minimising emissions, targeting carbon neutrality by 2050.