JPMorgan Chase & Co. and Banco Santander SA will coordinate financing for Argentina’s largest liquefied natural gas project, with a total cost estimated at $24 billion and an arrangement target of $14 billion to $15 billion.
The venture, known as Argentina LNG, aims to liquefy and export Argentina’s shale gas reserves from the Atlantic coast, with an annual production capacity of 12 million tons. The project includes two floating liquefaction vessels, two transcontinental pipelines, and a natural gas liquids plant. YPF SA, Eni SpA, and XRG will hold roughly equal equity stakes in the initiative.
The financing arrangement exceeds the $20 billion agreement previously signed between the Argentine government and the International Monetary Fund. Partners intend to reach a final investment decision by the end of November, according to the announcement on Monday.
The project is designed to monetize Argentina’s shale gas resources, positioning the country as a significant exporter in the global LNG market. Infrastructure development and financing coordination are now advancing toward the FID milestone.
