Natural gas condensates (petroleum)

Meeting covered cooperation on gas development via floating liquefaction; Argentina LNG targets 12 MTPA initially, investment decision due end of year and start-up planned for 2030.

Argentina targets global LNG supply; first phase 12 Mtpa from Vaca Muerta with YPF and Eni partnership, promising over 40,000 jobs and export revenues.

Phase 2 will double Kitimat LNG output to 28 mtpa; Shell’s 40% stake adds nearly 6 mtpa, with commercial operations targeted in the early 2030s.

Absheron expansion to unlock up to 5 Tcf of gas; production expected from 2029 at 600 MMcf/d and 47,000 b/d condensate, tied into the Southern Gas Corridor.

Deals cover a 50/50 PSA for unconventional hydrocarbons, Absheron FID, LNG export options for Haynesville gas, cloud operator appointment and a 10% Baleine stake.

100% Sapukala deep-water block awarded; adjacent to major gas discoveries and covered by new seismic to speed evaluation.

FEED covered two offshore packages including ~150 km subsea, gas export and CCS pipelines; project targets ~9.5 Mtpa LNG and supports Indonesia's energy security and net-zero 2060 goals.

New PSC links existing Block A‑18 with adjacent exploration area; GSA in place to continue gas supply to Malaysia and Thailand.

EPC tendering completed, capex trimmed to ~$14bn after ~$4bn savings; operatorship to move to ExxonMobil; LNG marketing JV and offtake deals secure 2.4 Mtpa and 1.5 Mtpa.

Upgrades will let the Train 1 facility process up to 3 Mtpa of Scarborough gas; scope includes an NGL unit, nitrogen recycle compressor and custody metering; major module lift and a 4,600 t module installed.