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35 min ago 2 min read
The Export-Import (EXIM) bank of the US is to mobilise up to $7bn funding to Argentina across a range of sectors including a flagship LNG project and broader energy security.
EXIM Chairman John Jovanovic said it must “secure our supply chains, support American jobs … [and ensure its] expertise reach all parts of the western hemisphere.”
The funding will help jump start Argentina’s massive $51bn integrated Argentina LNG project in the Vaca Muerta basin, which targets a liquefaction capacity of 12 million tonnes per annum, rising to as much as 20 mtpa.
The project, led by YPF (36%), Eni (32%) and XRG (32%), has not yet reached final investment decision.
Last month Argentina LNG submitted an application to join (Rigi) for the development of the project.
Energy technology specialist Baker Hughes for the San Matias pipeline in Río Negro province to support the LNG export project.
The project, which needs to raise around $14bn in the first phase, must overcome strong global competition and remote infrastructure hurdles.
