YPF seals deal to join PAE and Golar to develop FLNG project

With an estimated investment of $2.9 billion over the next 10 years, the FLNG project represents a strategic milestone to monetize Pampa’s Vaca Muerta reserves and position Argentina in the global LNG market.

Argentina LNG project

With this agreement, YPF continues to take concrete steps to make the Argentina LNG project a reality, Marin said.

“I am convinced that Argentina LNG is going to transform the country in the next 10 years and we will only be able to make it a reality if we join forces and focus on generating a project that can provide Argentina with more than $15 billion of annual income,” Marin said.

Last week, YPF signed a memorandum of understanding with Indian firms for the planned Argentina LNG export project.

According to YPF, the firm signed the MoU with GAIL, Oil India, and ONGC Videsh for the potential export of up to 10 million tons per year of LNG to India.

This MoU followed a deal with UK-based LNG giant Shell.

In December 2024, YPF and Shell signed a project development agreement (PDA) for the first phase of the Argentina LNG export project.

The PDA means that Shell will join the LNG project.

With Shell entering into the development of the first phase of the Argentina LNG Project, Petronas’ participation as a partner of YPF has come to an end.

YPF said at the time that the company and Shell will commit to mature the development of the first phase of the Argentina LNG project towards a decision to enter the front-end engineering and design (FEED) stage.

The first phase has a liquefaction capacity of 10 mtpa.

According to the Argentina LNG website, during its first phase, the project would have two floating liquefaction units with a production capacity of 10 mtpa.

The second phase includes the construction of a 10 mtpa onshore modular liquefaction plant, while the third phase entails an expansion of the onshore plant with new liquefaction trains for an additional 10 mtpa.