Overview
- Signed at ADIPEC in Abu Dhabi, the Framework Agreement with XRG—ADNOC’s international investment arm—sets terms to negotiate its entry into the Argentina LNG consortium led by YPF and ENI.
- The project’s first phase targets 12 MTPA of LNG via two FLNG units off Río Negro, with expansion potential to 18 MTPA around 2030.
- Companies indicated a near‑term step toward definitive contracts, with reporting pointing to roughly 30 days, followed by required approvals including national RIGI rules, a Río Negro provincial regime, and Neuquén’s 30‑year unconventional permits.
- Total investment needs are widely estimated near US$25–30 billion across infrastructure and upstream, with financing to be sought after an FID planned for the first half of 2026.
- YPF projects about US$10 billion in annual export revenue from around 2030 if the plan proceeds, and talks with Shell for a potential additional 6 MTPA remain under discussion.