XRG backs Argentina's LNG goals
Dr. Sultan Ahmed Al Jaber, Chairman and CEO of XRG, announced that the company supports Argentina’s ambitions to become a major supplier of liquefied natural gas (LNG) to global markets. This was stated during Argentina Week in Paris, where he emphasized that Argentina’s LNG project reflects confidence in the Vaca Muerta basin’s resources, which contains the second-largest shale gas reserves and the fourth-largest shale oil reserves in the world. The country’s historic oil production and increasing energy trade surpluses bolster Argentina’s ability to undertake ambitious projects. The first phase of the project aims to produce 12 million tons of LNG annually, with Al Jaber noting that the project will generate over 40,000 jobs and add billions of dollars to the local economy. He also highlighted ongoing collaborations with partners like YPF and Eni to enhance export capabilities and access to global markets.
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