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JPMorgan and Santander to lead up to $15 billion LNG funding in Argentina
The Argentina LNG project is a $24 billion build on the Atlantic coast, targeting 12 million tons per year with potential ramp-up to 18 million tons.
JPMorgan and Santander are set to lead a fundraising effort for Argentina LNG, Bloomberg reported, citing unnamed sources saying the total financing could reach $15 billion.
The project includes a partnership between Italy’s Eni, Argentinian state energy major YPF, and Emirati XRG, with the LNG facility planned for Argentina’s Atlantic coast.
According to the report, the plant is designed for annual production of 12 million tons of liquefied gas, potentially increasing to 18 million tons, and it will include two floating liquefaction trains, two cross-country pipelines, and a natural gas liquids production plant.
Bloomberg also noted the project’s total price tag of $24 billion, which is higher than Argentina’s $20 billion loan agreement with the International Monetary Fund, and that the LNG will source gas from the Vaca Muerta shale play.
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