Eni Acquires 32% in Vaca Muerta Blocks for 12 mtpa Floating LNG Project
E•Eni will acquire a 32% stake in Argentina’s Vaca Muerta Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas blocks alongside YPF (36%) and XRG (32%), pending approvals. The assets will feed a 12 mtpa floating LNG project with two FLNG units, boosting Eni’s integrated gas-to-LNG value chain.
1. Transaction Details
Eni signed an agreement to acquire 32% of three unconventional gas blocks – Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas – in Argentina’s Vaca Muerta. The purchase is subject to regulatory approval and establishes partner stakes at YPF 36%, Eni 32% and XRG 32%.
2. Project Integration
These upstream assets are slated to supply gas to Argentina’s integrated LNG export development. The facility will use two floating LNG units to deliver a combined capacity of 12 million tonnes per annum.
3. Strategic Rationale
The investment supports Eni’s strategy to link upstream production with LNG exports, emphasizing floating liquefaction for flexible supply. It enhances Eni’s global network in unconventional gas resource development and marketing.
4. Partner Perspectives
Eni’s chief operating officer highlights the entry as strengthening the company’s world-scale gas resource development and competitive LNG supply. XRG and YPF underscore the deal’s role in advancing Argentina as a long-term LNG supplier.
