JPMorgan and Santander Spearhead $15 Billion Argentina LNG Financing

The total capital requirement for the venture stands at $24 billion, a figure that eclipses the country’s $20 billion loan agreement with the International Monetary Fund. Plans for the Atlantic coast facility include two floating liquefaction trains, extensive cross-country pipeline networks, and a dedicated plant for natural gas liquids. With an initial target capacity of 12 million tons per year, the partners anticipate eventually scaling production to 18 million tons.

Success hinges on the Vaca Muerta shale formation, which holds the world’s second-largest technically recoverable shale gas resources. Current output from the region hovers near record highs, with daily production reaching 5.5 billion cubic feet. As the government prioritizes energy infrastructure to bolster offtake capacity, this project serves as a cornerstone for Argentina’s broader ambition to produce 24 million tons of liquefied gas annually.