Italy's Minister says Eni and Argentina's YPF are progressing with the Vaca Muerta Gas Project

Eni and Argentina’s YPF have made progress in the Vaca Muerta liquefied gas project, Italy’s foreign minister announced on Tuesday. A final investment decision is expected for this initiative soon.

Antonio Tajani, who spoke at the Italy Latin America and Caribbean Conference, said: "I am pleased to hear that Eni and YPF have made significant progress on the liquefied gas export project out of the Vaca Muerta Basin."

Eni and YPF signed an agreement in June to collaborate on the development of the gas resources at the Vaca Muerta Field.

Eni announced at the time that it would cover production and treatment of gas, transportation, and liquefaction through floating units with a total annual capacity of 12,000,000 metric tons.

Eni developed expertise in floating LNG units as it managed similar projects in Congo, Mozambique and elsewhere.

YPF, the state-controlled energy company, announced late Monday that two energy companies will sign a contract for front-end engineering design at a ceremony on Friday in Buenos Aires. (Reporting by Francesca Landini in Milan. Eliana Raszewski contributed additional reporting from Buenos Aires. Mark Potter (Editing)

(source: Reuters)