Argentina Integrated Oil & Gas: Vaca Muerta Watch, July 6: Key LNG projects advance, Argentina hits 900kbpd milestone

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Argentina Integrated Oil & Gas: Vaca Muerta Watch, July 6: Key LNG projects advance, Argentina hits 900kbpd milestone

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06 Jul 2026 13:48:52 ET │ 11 pages

Argentina Integrated Oil & Gas

Vaca Muerta Watch, July 6: Key LNG projects advance, Argentina hits

900kbpd milestone

CITI'S TAKE

We analyze last month's relevant developments within the

Argentina/Vaca Muerta energy space. We recently published a in-depth

look at the case for Vaca Muerta: A structural beneficiary of the new Andrés CardonaAC

energy outlook. +57-601-484-0441

andres.cardona@citi.com

LNG on the move. YPF’s Argentina LNG advanced with the deal to transfer 32% of Matheus Tostes

Upstream WI to Eni and XRG each, keeping 36% for itself. The five blocks involved— +55-21-4009-0406

Meseta Buena Esperanza I and II, Aguada Villanueva Norte, and Las Tacanas I and matheus.tostes@citi.com

II—will form the dedicated gas hub to feed the LNG project. For more details, see Gabriel Barra

Argentina LNG: ENI and XRG Join Upstream Development. Moving to Southern +55-11-4009-2223

Energy, which is already more advanced, the San Matías Pipeline has made gabriel.barra@citi.com

significant progress. The government granted RIGI approval for the US$1.3bn,

480km pipe, and the construction management contract was awarded to IEB

Construcciones, with civil works assigned to the UTE Contreras-Sicim. We expect

Southern Energy’s first ship (2.45 MTPA) to begin exporting using early supply gas

solutions by the second half of 2027, with the pipeline for the definitive feed gas

solution ready by winter 2028 (Más Energía, June 4; Shale24, June 24). On other

initiatives, Chile has offered its ports of Quintero, Mejillones, and Biobío as Pacific

routes for Argentine LNG/oil exports, which is the LNG design proposed by CGC's