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U.S. readies up to $6 billion for Argentina LNG project
The financing plan would back a $51 billion Argentina LNG effort led by YPF, including U.S. supply procurement for infrastructure and production.
The U.S. Department of State said the U.S. government is prepared to support Argentina’s first LNG export project with lending of up to $6 billion, tied to a newly launched Andes-Atlantic Corridor initiative aimed at modernizing and strengthening energy infrastructure. According to OilPrice, the project is led by Argentina’s YPF in partnership with Italy’s Eni and Emirati energy firm XRG.
OilPrice reports that the U.S. Export-Import Bank issued a non-binding indicative term sheet for up to $6 billion for the broader $51 billion Argentina LNG project. The State Department said the proposed EXIM financing is intended to support procurement of U.S. goods and services needed for infrastructure development and related production activities.
The plan also references contracts connected to project buildout. OilPrice notes that McDermott was awarded engineering, procurement, construction, and commissioning work for a natural gas liquids fractionation and gas treatment facility, and that Pumpco, a MasTec subsidiary, received an engineering, procurement, and construction contract worth more than $1 billion for the export pipeline system, subject to a final investment decision.
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