Marin discussed the Argentina LNG project and Vaca Muerta resources during the Gastech exhibition and conference, currently being held in Milan, Italy.
“So, our idea is next year to have FID for both projects,” Marin said, referring to the FLNG projects with Eni and Shell.
“It could delay FID unless we take the risk of starting FID before having the financing. But if we don’t have that risk, it could be during next year,” he said.
On the offtake side, he said that “we have not so much gas to sell.”
“And the markets that we are looking at are Europe and Asia, and Japan,” he said.
“We have discussions .. with them,” Marin added.
Last month, Marin said during a conference in Buenos Aires that YPF and its partners Eni and Shell may take FIDs on two stages of the Argentina LNG project in the first quarter of 2026.
Argentina LNG
Argentina LNG is a large-scale integrated, upstream, and midstream gas development project aimed at developing the resources of the onshore Vaca Muerta field and serving international markets.
It will export in a phased approach up to 30 million tons per year of LNG by 2030.
In June, YPF and Eni signed a participation deal that outlines the necessary steps to reach FID for the third phase of YPF’s Argentina LNG export project.
This phase includes the production, treatment, transportation, and liquefaction of gas via floating units, for a total capacity of 12 million tons of LNG per year.
Eni’s COO of global natural resources, Guido Brusco recently said that “the plan is to have an FID by the first quarter of 2026.”
As per the phase with Shell, the two firms signed a project development agreement (PDA) for the second phase of the Argentina LNG export project in December 2024.
The second phase will have a capacity of 10 mtpa and two FLNGs.
SESA
Earlier this year, Golar announced the decision and fulfillment of all conditions precedent for the 20-year re-deployment charter of the FLNG Hilli Episeyo, first announced in July 2024.
FLNG Hilli, with a nameplate capacity of 2.45 mtpa, is expected to start its contract in 2027.
Also, the vessel will be chartered to Southern Energy (SESA), offshore Argentina.
SESA’s shareholders comprise Pan American Energy (30 percent), YPF (25 percent), Pampa Energia (20 percent), Harbour Energy (15 percent), and Golar LNG (10 percent).
In addition, Golar and SESA have signed definitive agreements for a 20-year charter for the MKII FLNG, currently under conversion at CIMC Raffles shipyard in Yantai, China.
The partners took FID on the project last month.
