Harbour Energy PLC (LSE:HBR) has confirmed the final investment decision (FID) for the Southern Energy floating liquefied natural gas project offshore Argentina.
The company holds a 15.00% interest in the development, alongside Pan American Energy, YPF, Pampa Energia and Golar LNG.
The FLNG project will deploy two vessels - the Hilli Episeyo and MK II - off the coast of the Rio Negro province.
Martin Rueda, managing director of Harbour's Argentina business, described it as a significant milestone.
“As the country's first LNG project under the RIGI, it marks an important milestone in supporting Argentina's ambition to become a material exporter of natural gas. We look forward to working together with our partners and stakeholders to safely and efficiently deliver this project,” Ruenda said in a statement.
The project is expected to process and export approximately 6 million tonnes of LNG per year, equal to 27 million cubic metres per day of natural gas.
Harbour expects to invest around $100 million up to the point of commercial operations.
Production from the Hilli Episeyo is targeted for year-end 2027, while the MK II is planned to commence by the end of 2028.