Eni (E) said Monday it has signed a memorandum of understanding with Argentina's majority state-owned energy company YPF to assess its participation in the YPF-promoted Argentina liquid natural gas project in the onshore Vaca Muerta natural gas field.

Financial details of the agreement weren't disclosed.

The Argentina LNG gas development project is expected to export 30 million tons of LNG annually by decade-end, the company said.

The MoU involves the project phase linked to building upstream, transportation, and gas liquefaction facilities via two floating LNG units, each with a capacity of 6 million tons per year, Eni said.

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