LNG

Italy’s energy major Eni has agreed to acquire a 32% interest in three upstream blocks in the Vaca Muerta basin, designated as feedstock for an Argentine LNG export project. Argentina’s state oil company YPF, together with Eni and the Abu Dhabi-based investment firm XRG are working intensively to reach FID on the 12 mtpa Argentina LNG project during the second half of 2026.

Argentina’s Vaca Muerta shale is drawing investor interest to a 15-block licensing round for blocks suited for LNG feedgas development. The bidding round comes as LNG buyers reassess their portfolio exposure to supplies chains build around the Strait of Hormuz. Disruption or perceived risk to future LNG exports from Qatar and the UAE have increased interest in Atlantic Basin alternatives.

Venture Global has requested regulatory approval to feed natural gas into the final block of its Plaquemines LNG plant by Thursday. If FERC approves, LNG will soon be produced at all 36 trains of the 27.2 mtpa liquefaction terminal – more than a year before long-term offtakers were meant to receive their contracted cargoes.