Overview
- JPMorgan will begin contacting roughly 200 banks and 300 funds within days to line up about $12.5 billion in the first half of 2026.
- ENI and ADNOC’s XRG are in for an initial 12 MTPA using two FLNG units off Río Negro, with a possible lift to 18 MTPA if a new partner joins.
- Shell exited; YPF is courting a replacement supermajor, with Saudi Aramco and Chevron cited in reports but not confirmed.
- The consortium plans to take FID only after financing is secured, with talks starting now and regulatory incentives under the RIGI framework still being clarified.
- YPF is funding its share through asset sales, including Profertil ($600 million) and Manantiales Behr ($500 million), and expects to sell its 70% stake in Metrogas next year, as it targets energy exports of $40–50 billion annually around 2031.