Argentine Chinese Online Buenos Aires June 5th Argentine President Javier Mile will set off for a week-long visit to Europe and Israel today, with the most important diplomatic event being held in Rome this Friday. President Mile will sign a framework agreement with Italian Prime Minister Georgia Meloni to promote cooperation between Argentina's National Oil Corporation (YPF) and Italian oil giant ENI Group (ENI), aiming to build Argentina into the world's fifth largest exporter of liquefied natural gas (LNG).
YPF President Olasio Marin has been waiting in Rome and will participate in the landmark signing ceremony. In April this year, Marin signed a memorandum of understanding (MOU) with Eni Group, marking the first step in cooperation between the two companies. The contract will further clarify the conditions so that the two companies can reach a consensus on the final investment decision before the end of the year.
It is revealed that the cooperation project between YPF and Eni Group will install two floating equipment, each with an annual production capacity of 6 million tons of liquefied natural gas. The first ship is expected to begin operations in 2028. Meanwhile, YPF is working on several liquefied natural gas projects: including a project with Southern Energy, which is scheduled to be launched in 2027 with an annual output of 6 million tons; and a project with Shell, which will replace the original cooperation with Petronas, Malaysia, with an annual output of 12 million tons. These projects will use natural gas resources from the Vaca Muerta oil field to convert it into LNG through special vessels.
Experts predict that global liquefied natural gas demand now accounts for more than one-third of the world's total trade and is expected to double by 2050. Through strategic partnerships with companies such as Shell, Eni, PAE and Pampa Energía, YPF is expected to enable Argentina to generate US$15 billion in revenue per year over the next 20 years.
In addition to signing the energy agreement in Italy, Mile will also visit the Vatican, Spain, France and Israel. In Israel, he will meet with President Herzog and Prime Minister Netanyahu to visit the Wailing Wall and David City, and announce the opening of a direct flight from Buenos Aires to Tel Aviv.
President Mile's trip to Europe is scheduled closely: he will meet Pope Leo XIV in the Vatican on June 7, and then go to Madrid to attend the closing ceremony of the Madrid Economic Forum; he will fly to Israel after meeting with French President Macron in Nice, France on June 9; then conduct an intensive three-day visit in Israel, including attending the Jewish Nobel Prize award ceremony and signing a memorandum of understanding on democracy and freedom with Netanyahu. President Mile is expected to return to Buenos Aires on June 14.
This trip to Europe and the Middle East is one of the most important diplomatic activities of the Milei government to date. In particular, the energy cooperation agreement with Italy is expected to bring long-term and stable foreign exchange income to Argentina, which is of great significance to Argentina's economic recovery.
Source: Argentina TN National News and Television
