YPF CEO Horacio Marin is optimistic about the Argentina LNG project, expecting a final investment decision in mid-2026. Marin predicts that YPF, Eni, and ADNOC's XRG unit will each hold a third of the project's equity. However, Shell has recently exited the project due to a scope change, reducing its phase from 12 mtpa to 6 mtpa. Despite this setback, Marin remains focused on the Eni and XRG phase, aiming to secure another partner to replace Shell. The project's exports are projected to commence in 2030 or 2031, with YPF targeting an overall capacity of 18 mtpa. Marin also highlights the project's competitive position, noting that Argentine LNG exports to Asia are more competitive than U.S. exports to Asia but less competitive than U.S. exports to Europe. YPF's financial strategy includes seeking project financing from JP Morgan in early 2026, with financing covering 70-80% of the project's cost. Dividends may be introduced in 2028 or 2029, contingent on oil and gas prices. This ambitious project reflects YPF's commitment to the energy sector and its potential impact on the global LNG market.
