Lates News

The U.S. Export-Import Bank has proposed financing up to $6 billion for Argentina's flagship natural gas project, the latest show of support from the Trump administration as Argentine President Milei seeks foreign investment. YPF SA, the state energy company leading the project, said in a statement on Wednesday that the project, called Argentina LNG, received a financing proposal from the U.S. government credit agency. Italy's Eni and the UAE's Abu Dhabi National Oil Company, ADNOC, are also investors in the project, which aims to turn Argentina's abundant shale gas resources in the Patagonia region into commercial value. The three companies are rushing to get banks such as JPMorgan and Santander to provide a large portion of the $24 billion they need to build infrastructure including processing plants, pipelines and floating liquefaction units. That is a daunting task in Argentina. In the Milei era, energy project financing has revived, but on a much smaller scale. YPF's CEO said the partners will make a final investment decision in November, but that will likely depend on securing letters of intent from banks and export credit agencies to put the loan arrangements in place.