JPMorgan and Santander Lead $15 Billion Argentina LNG Financing

JPMorgan Chase & Co. and Banco Santander SA are leading a financing arrangement of approximately $14 billion to $15 billion for Argentina LNG. The project aims to liquefy and export Argentina's shale gas reserves with a total estimated cost of $24 billion. The lead banks are currently seeking additional funds from other lenders and export credit agencies to cover the remaining balance.

The venture is led by state-run YPF SA, Italy's Eni SpA, and Abu Dhabi's XRG, who hold roughly equal equity stakes. The planned infrastructure includes two floating liquefaction vessels, two cross-country pipelines, and a natural gas liquids plant. Once operational, the project intends to produce 12 million tons of LNG annually.

This development follows free-market reforms implemented under President Javier Milei. The project has applied for the government's RIGI investor initiative, and the partners expect to reach a final investment decision in late November.