Overview

• The Technical FID covers a first phase of two 6 MTPA FLNG units off Río Negro, with plans scoped to expand total capacity to 18 MTPA.
• Initial exports from the 12 MTPA phase are estimated at about $14 billion a year, with potential to reach roughly $20 billion annually if expanded.
• Total needs outlined include $25–30 billion for midstream and liquefaction plus about $15 billion for upstream drilling, including some 800 new wells and a proposed 48-inch, ~580 km pipeline from Vaca Muerta to the Atlantic coast.
• Government leaders publicly backed the project, with President Javier Milei calling it the country’s largest investment and officials signaling use of the large‑investment incentive framework.
• Eni’s CEO pointed to Europe as a likely outlet for Argentine LNG, while coverage flagged financing, regulatory stability, logistics and global competition as key execution risks, with first exports targeted before 2029.