Eni takes 32% stake in Vaca Muerta blocks for Argentina LNG
- Eni signed an SPA to acquire 32% interest in three Vaca Muerta upstream blocks: Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas.
- After closing (subject to approvals) ownership will be YPF 36%, Eni 32% and XRG 32%.
- The blocks will feed the Argentina LNG integrated project, supporting 12 MTPA LNG capacity via two 6 MTPA floating LNG units.
- Eni says the move aligns with its strategy to expand and diversify its upstream gas portfolio and develop integrated LNG supply capabilities.
Deal details
Eni has signed a Sale and Purchase Agreement to acquire a 32% interest in three upstream blocks in the Vaca Muerta unconventional basin: Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas. Completion of the transaction remains subject to approval by the relevant authorities. Upon closing, participation in the three blocks will be held by YPF (36%), Eni (32%) and XRG (32%).
Integration with Argentina LNG
The three blocks are part of the Argentina LNG integrated development, an upstream‑midstream project intended to leverage Vaca Muerta gas resources to strengthen Argentina’s role as an LNG supplier. Resources from these assets will feed 12 million tonnes per annum of LNG capacity, delivered via two floating LNG units of 6 MTPA each.
Executive comments
Eni’s COO Global Natural Resources, Guido Brusco, said the entry positions Eni across the value chain to develop world‑scale gas resources and convert them into competitive LNG for international markets. XRG’s Mohamed Al Aryani noted the project’s potential to unlock Argentina’s role in meeting growing global gas demand and highlighted XRG’s direct role in advancing the development. YPF Chairman and CEO Horacio Marín said Eni and XRG’s entry strengthens the project’s value chain and advances development on a global scale.
Strategic context
Eni frames the transaction as consistent with its strategy to strengthen and diversify its upstream gas portfolio, develop integrated projects along the value chain, and expand marketing of LNG equity while contributing to the security and competitiveness of energy supplies.
Source: Eni