Argentina SEFE LNG deal December 2025: what was signed

Argentina SEFE LNG deal December 2025 is anchored by a Heads of Agreement between Southern Energy S.A. (SESA) and Germany’s SEFE. The southern energy sefe hoa outlines supply of 2 MTPA for eight years, with deliveries expected to begin from late 2027. The 2 mtpa lng eight years structure ties startup to the Hilli Episeyo floating LNG unit.

According to available reports, first cargoes would load once Hilli reaches operational status. That aligns with the planned hilli episeyo 2027 start. The HoA formalizes commercial intent while the parties prepare for execution.

Deal value and pricing: about $7 billion

Outlets estimate the pact near $7 billion over the term. However, the final value will vary with international LNG prices. The volume and tenor, 2 mtpa lng eight years, create meaningful exposure to price cycles, including European hub benchmarks.

Moreover, price flexibility is common for long-term LNG. Therefore, both sides could benefit from diversification and index choices across the contract horizon.

Who is SESA: consortium and stakes

SESA is a multi-company consortium. It includes Pan American Energy (30%), YPF (25%), Pampa Energía (20%), Harbour Energy (15%) and Golar LNG (10%). Additionally, the mix combines upstream, midstream, and FLNG expertise.

The structure matters for delivery. Consequently, partners can align gas supply, liquefaction, shipping, and marketing.

Capacity and timing: Hilli Episeyo utilization

The contracted 2 MTPA represents over 80% of Hilli Episeyo’s 2.45 MTPA nameplate. It also exceeds 30% of SESA’s planned combined 6 MTPA setup. This concentration supports early ramp-up and predictable load factors.

Critically, the schedule targets a hilli episeyo 2027 start. As a result, production and offtake are synchronized for an orderly launch.

Timeline: signature to first shipments

• December 2025: The southern energy sefe hoa is signed, establishing the commercial framework.
• 2027: Commissioning and readiness activities proceed toward the hilli episeyo 2027 start.
• Late 2027: First cargoes are expected to load, initiating deliveries under the agreement.

This sequence keeps the Argentina SEFE LNG deal December 2025 on a clear path from signature to shipments.

Why it matters: Argentina’s first large-scale LNG sale, Europe’s security

Executives described this as the “primera venta a gran escala de GNL desde Argentina,” signaling the first large-scale lng sale argentina. That milestone could reshape the country’s export profile and monetize Vaca Muerta gas at scale.

For Europe, the deal was framed as a contribution to sefe europe energy security via supply diversification. Moreover, SEFE highlighted portfolio resilience and optionality. In turn, diversified sources support system stability, especially during winter peaks. The characterization of “first large-scale lng sale argentina” and the nod to sefe europe energy security underscore both market and geopolitical significance.

What’s Next for the Argentina SEFE LNG deal December 2025

Next steps concentrate on commissioning Hilli and aligning logistics for late-2027 loadings. According to available reports, the parties intend to synchronize project capacity with offtake to commence deliveries from late 2027. Therefore, the Argentina SEFE LNG deal December 2025 advances from commercial outline to preparation for operations.

If the schedule holds, Argentina will begin consistent LNG exports under this framework. Additionally, SEFE would add long-term volumes that complement its portfolio.