JPMorgan and Santander are leading a $15 billion fundraising push for Argentina LNG, Bloomberg reported. The project partners — Eni, YPF, and XRG — target a final investment decision by November. The Atlantic coast facility will produce 12 million tons annually, potentially ramping to 18 million tons. Total costs hit $24 billion, surpassing Argentina’s $20 billion IMF loan. The gas will come from Vaca Muerta, the world’s second-largest shale gas play.
The financing signals institutional confidence in Latin America’s energy sector. Argentina produces 5.5 billion cubic feet of natural gas daily, near all-time highs. Vaca Muerta holds an estimated 308 trillion cubic feet of recoverable resources. The project could reshape regional LNG supply and boost commodity markets. Capital flows into energy infrastructure are accelerating, and sentiment around Latin American energy assets is strengthening.