Argentina's YPF signs agreement with Eni and XRG for upstream development of LNG project

Argentina's YPF has signed agreements with Eni and XRG for the companies to join the upstream development of an LNG project, the state energy company said in a statement on Monday.

• Eni and XRG will each acquire a 32% stake in UPCO ARLNG I, which will own the gas blocks linked to the project located in the Vaca Muerta shale formation, with YPF retaining 36%.

• The five gas blocks will be dedicated exclusively to the Argentina LNG project from the signing of the agreements.

• The transaction is subject to regulatory approval, the company added.

• "The entry of Eni and XRG into the upstream strengthens the project's value chain and allows us to advance toward its development at a global scale," YPF CEO Horacio Marin said in the statement.