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Investing.com -- Italian energy company Eni has announced that it signed a memorandum of understanding (MoU) with Argentina’s state-run oil producer YPF on Monday. The agreement concerns Eni’s potential involvement in a liquefied natural gas (LNG) project in Argentina.
The LNG project in question aims to develop the onshore "Vaca Muerta" gas field in Argentina. Its goal is to supply international markets by exporting up to 30 million tons per year (Mtpa) of LNG by the end of the decade, according to a statement released by Eni.
The MoU between Eni and YPF outlines the development of upstream, transportation, and liquefaction facilities for gas. The plan is to use two floating LNG units, each with a capacity of 6 Mtpa, totaling 12 Mtpa.
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