Story
Eni CEO, Argentine President Milei Discuss Vaca Muerta LNG Project
Summary
Eni CEO Claudio Descalzi met with Argentine President Javier Milei to discuss the development of a major liquefied natural gas (LNG) project in the Vaca Muerta basin, a key energy initiative for the South American nation.
Eni CEO Claudio Descalzi met with Argentine President Javier Milei on Friday to discuss a major liquefied natural gas (LNG) project planned for the country's Vaca Muerta shale basin. The Italian energy group confirmed the meeting took place in Paris during Argentina Week, where the two leaders discussed investment opportunities and prospects for cooperation.
Project Details and Partners
The discussion centered on the Argentina LNG project, a significant energy infrastructure initiative. Eni is developing the project alongside two key partners:
- Argentina's state-owned oil company, YPF.
- XRG, the international investment arm of the Abu Dhabi National Oil Company.
The venture is targeting a production capacity of 12 million tonnes of LNG per year, with production scheduled to begin by 2030, according to the company.
AdStrategic Importance for Argentina
The Vaca Muerta formation is one of the world's largest unconventional hydrocarbon reserves and is considered vital to Argentina's economic future. While the basin already produces the majority of the country's oil, a large portion of it remains undeveloped.
This project represents a critical step in unlocking the formation's vast natural gas resources for export to global markets. The meeting between Descalzi and Milei signals high-level government support for advancing foreign investment in the nation's strategic energy sector.
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