BAKU, Azerbaijan, October 10. Eni’s CEO Claudio Descalzi met with President of Argentina Javier Milei today to discuss the company’s ongoing and potential energy projects in the country, Trend reports.
The meeting highlighted Eni’s commitment to developing Argentina’s natural gas resources and advancing its liquefied natural gas (LNG) capabilities.
Following the presidential meeting, Descalzi and YPF President and CEO Horacio Marin signed the Final Technical Project Description (FTPD) for the Argentina LNG (ARGLNG) project. This milestone represents a critical step toward the Final Investment Decision (FID) for the 12 MTPA LNG phase of the integrated upstream-midstream development. The project will process gas from the Vaca Muerta field, transporting and liquefying it through two floating LNG (FLNG) units, each with a 6 MTPA capacity, while also valorizing associated liquids for export.
The agreement builds on a Head of Agreement signed in June 2025 and leverages Eni’s FLNG expertise from projects in Congo and Mozambique, combined with YPF’s experience in managing upstream operations in Vaca Muerta.
Claudio Descalzi commented: “We are proud to contribute to Argentina’s LNG development, which will become a significant supply source for international markets. The expertise we have gained from FLNG projects makes Eni an ideal partner for this type of development.”
The Argentina LNG project is designed as a large-scale integrated gas development, capable of exporting up to 30 MTPA in multiple independent phases. The initiative aligns with Eni’s strategy to promote the energy transition, expand gas production, and contribute to carbon neutrality by 2050, while enhancing the security and competitiveness of global energy supplies.