YPF files for largest-ever RIGI project at US$51 billion

Argentina's state-owned energy company YPF has filed to bring its massive Argentina LNG project under the country's Large Investment Incentive Regime (RIGI). The project, aimed at developing natural gas resources in the Vaca Muerta unconventional oil field, will cost US$51 billion, making it the largest investment in Argentina's history.

Jointly developed by YPF, Eni, and Abu Dhabi-based XRG, the initiative promises substantial economic benefits. YPF's CEO Horacio Marín emphasized this move as a "crucial step" towards a new era of Argentine energy exports, highlighting the project's potential to generate jobs, foster technological growth, and promote international integration.

By adhering to RIGI conditions, YPF anticipates long-term stability in legal, tax, customs, and foreign exchange matters, essential for attracting international investment and financing. Argentina LNG plans to transform Vaca Muerta's natural gas into liquefied natural gas (LNG) for export, with a combined capacity of 12 MTPA, and is expected to generate nearly US$10 billion in export revenues annually over two decades.

The project will create around 20,000 jobs during its construction phase and around 8,000 jobs annually during operation, significantly contributing to Argentina's energy sector and national economy.