Aug. 24 at 10:21 PM
JPMorgan Chase and Banco Santander are leading
$14–15 billion in financing for Argentina LNG, a
$24 billion project to liquefy and export the country’s shale gas, Bloomberg reported, citing people familiar with the matter. The partners are still negotiating with additional lenders, including export credit agencies, to secure the remaining funding.
Argentina LNG is led by state-owned YPF alongside Italy’s Eni and Abu Dhabi-based XRG, with the three companies holding roughly equal stakes. The project includes two floating LNG vessels, two transcontinental pipelines and a natural gas liquids plant. The floating terminal on Argentina’s Atlantic coast is expected to produce 12 million metric tons per year, making it one of the world’s largest floating LNG facilities.
The partners are targeting a final investment decision by late November. The project’s estimated
$24 billion cost exceeds the
$20 billion financing agreement Argentina reached with the IMF.
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