(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 5. Eni and Argentina's state energy company YPF have signed a non-binding agreement with XRG, part of the ADNOC Group, outlining the latter's potential participation in the liquefied natural gas (LNG) phase of the large-scale Argentina LNG (ARGLNG) project, Trend reports.

The ARGLNG initiative is an integrated upstream and midstream development designed to tap into the vast resources of Argentina's onshore Vaca Muerta field and supply global markets. The project aims to export up to 30 million tonnes of LNG annually in several independent phases by 2030.

According to the Final Technical Project Description signed by Eni and YPF on October 10, the project will encompass gas production, processing, transportation, and liquefaction for export through two floating LNG units (FLNG), each with a capacity of 6 million tonnes per year - equivalent to roughly 9 billion cubic meters of gas - along with the valorisation and export of associated liquids.

The new agreement sets a framework for cooperation among the parties and paves the way for a future Joint Development Agreement (JDA) for ARGLNG.

Eni and ADNOC are long-standing strategic partners, having collaborated on major energy projects in the United Arab Emirates and beyond. The potential involvement of ADNOC's XRG unit is expected to strengthen the project's progress toward a final investment decision.

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