JPMorgan and Citi Negotiate $1 Billion Loan for Argentina Pipeline Project
JPMorgan Chase and Citigroup are negotiating a $1 billion loan to support the construction of a cross-country pipeline in Argentina, aimed at enhancing natural gas exports from the Vaca Muerta region. The project, led by Pan American Energy Group and involving a consortium of companies, is expected to facilitate the transportation of gas to a floating liquefaction terminal, with the first vessel projected to begin production by the end of 2027.
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JPMorgan Chase, Citigroup, and Banco Santander are in talks to finance a $1 billion loan for natural gas producers in Argentina to construct a cross-country pipeline, led by Pan American Energy Group. The consortium, Southern Energy SA, includes YPF SA, Pampa Energía SA, Harbour Energy Plc, and Golar LNG Ltd.
Negotiations are ongoing, and terms may change. The pipeline aims to transport gas from Vaca Muerta to a floating liquefaction terminal, enhancing Argentina's LNG exports. The first liquefaction vessel is expected to start production by the end of 2027, with a combined capacity of six million tons annually.
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