{"id":23652,"date":"2026-03-12T08:48:37","date_gmt":"2026-03-12T07:48:37","guid":{"rendered":"https:\/\/www.recommon.org\/?p=23652"},"modified":"2026-03-12T08:57:52","modified_gmt":"2026-03-12T07:57:52","slug":"recommon-is-serving-a-cease-and-desist-letter-to-sace-asking-not-to-financially-support-the-argentina-lng-project","status":"publish","type":"post","link":"https:\/\/www.recommon.org\/en\/recommon-is-serving-a-cease-and-desist-letter-to-sace-asking-not-to-financially-support-the-argentina-lng-project\/","title":{"rendered":"ReCommon is serving a cease and desist letter to SACE asking not to financially support the Argentina LNG project"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>Rome, 12 March 2026 \u2013<\/em> ReCommon today is serving a cease and desist letter to Italian export credit agency SACE and its parent entity, the Ministry of Economy and Finance \u2013 in agreement with the Ministry of Foreign Affairs and International Cooperation \u2013 warning it against supporting the Argentina LNG project in Argentine Patagonia. Among other things, the project involves the installation of six gas liquefaction vessels (FLNG) in the unspoilt San Mat\u00edas Gulf, two of which will be built by ENI, with SACE most likely guaranteeing the operation with public money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The six floating units will receive gas to be converted into liquid form for export from the immense Vaca Muerta field, the world\u2019s second largest shale gas reserve. The initiative is led by YPF, Argentina\u2019s leading oil and gas company, which is owned by the state.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From a financial perspective and in terms of the resulting investment risk, the operation involves a national context \u2013 that of Argentina \u2013 characterised by structural economic fragility and high exposure to macroeconomic and political variables. It is very significant that SACE itself, in its analysis, attributes a medium-high political risk (71\/100) and a high credit risk (82\/100) to Argentina.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From an environmental and health perspective, the critical issues appear even more significant. The nearby Vald\u00e9s Peninsula was declared a UNESCO World Heritage Site in 1999 due to the uniqueness of its habitat and the presence of marine species of extremely high conservation value, including southern right whales, killer whales, South American sea lions, elephant seals, dark dolphins and Magellanic penguins. The area also includes nature reserves such as Punta Bermeja, whose promontory is home to La Lober\u00eda, the largest sea lion colony on the South American continent, Caleta de Los Loros and Bah\u00eda de San Antonio, previously protected against oil and gas&nbsp;activities by a law repealed in August 2022 for the sole purpose of allowing polluting operations in the area. The location of the floating gas liquefaction units, as well as the associated maritime traffic, would also interfere with the migratory routes of the southern right whale.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00abDuring our recent field mission in Argentina, in the area affected by the project, we learned that there were also serious issues from the point of view of public consultations. The meetings with local communities, promoted by the YPF company, took place in a militarised context characterised by tensions that created an intimidating climate for citizens and local associations opposed to the project\u00bb, said Simone Ogno of ReCommon. \u00abWhat\u2019s more, this would be yet another project that increases Italy\u2019s dependence on fossil fuels, a short-sighted choice if we look at what is happening with the closure of the Strait of Hormuz in recent days. For all these reasons, we are forced to formally warn SACE not to use public money for such a disaster\u00bb, concluded Ogno.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rome, 12 March 2026 \u2013 ReCommon today is serving a cease and desist letter to Italian export credit agency SACE<\/p>\n","protected":false},"author":3,"featured_media":23659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1179],"tags":[1193],"class_list":["post-23652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-comunicati-stampa-en-2","tag-sace-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ReCommon is serving a cease and desist letter to SACE asking not to financially support the Argentina LNG project - ReCommon<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.recommon.org\/en\/recommon-is-serving-a-cease-and-desist-letter-to-sace-asking-not-to-financially-support-the-argentina-lng-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ReCommon is serving a cease and desist letter to SACE asking not to financially support the Argentina LNG project - 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