Argentina's $51 Billion LNG Bet Is a Reminder: Midstream Contracts Still Trip Up Lawyers Who Learned Them on the Job
On 14 September 2026, YPF's chief executive confirmed that two or three LNG offtake contracts for the Argentina LNG project — a $51 billion venture with YPF, Eni and XRG behind two floating liquefaction units at Golfo San Matías, Río Negro — are close to signature, ahead of a final investment decision expected in November. It is one more entry in what has become the largest wave of LNG capacity expansion in the industry's history: roughly 57 million tonnes of new global liquefaction capacity is coming online in 2026 alone, and US LNG export capacity is set to grow from about 17 to over 19 Bcf/d over the same period.
Every one of those projects — Argentina's included — runs on a body of contract and regulatory language that most lawyers and industry professionals never learned systematically. Gas sales agreements, LNG SPAs, third-party access to pipelines, downstream taxation, antitrust clearance: each has its own vocabulary, and until now there has been no single reference that defines all of it in one place.
The Encyclopaedia of Midstream and Downstream Oil and Gas, now in its 2nd edition from Globe Law and Business, fills that gap. Written by Reg Fowler, Eduardo G. Pereira and Kim Talus with contributions from practitioners at firms including Latham & Watkins, White & Case, Mayer Brown and Bird & Bird, it combines an encyclopaedia with practitioner commentary across the full midstream/downstream chain — from gas storage and LNG export/import projects to refineries and distribution networks. The expanded edition adds dedicated new chapters on shipping, antitrust, third-party access, taxation and ESG.
In practice, that structure earns its keep in three recurring situations: a lawyer new to an LNG offtake negotiation who needs to move fast from "what does this clause mean" to drafting; in-house counsel at a national oil company assessing third-party access obligations on a cross-border pipeline; and ESG or compliance teams needing a working definition of how ESG considerations apply specifically to midstream and downstream assets, not just upstream.
For academic law libraries and energy-law programmes, it is one of the few titles that treats midstream and downstream activities as a single, coherent subject rather than splitting them across separate treatises — useful for comparative energy law courses as much as for practitioner reference shelves.
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Q&A
What does the Encyclopaedia of Midstream and Downstream Oil and Gas cover?
Energy policies, national oil companies, gas storage, LNG (sales agreements, export/import projects, shipping), pipelines, distribution networks, refineries, plus new chapters on shipping, antitrust, third-party access, taxation and ESG.
Who is this book written for?
Energy lawyers, in-house counsel, oil and gas industry professionals, consultants and academics who need to master the legal terms and provisions of the midstream and downstream sector.
Does it help with LNG offtake and gas sales agreement work specifically?
Yes — dedicated chapters cover gas sales agreements and LNG sales agreements, including how the market is moving toward commoditisation, alongside LNG export and import project structures.
How does the 2nd edition differ from the original?
It adds new chapters on shipping, antitrust, third-party access, taxation and ESG, expanding beyond the original volume's midstream/downstream commentary.
Where can I buy the Encyclopaedia of Midstream and Downstream Oil and Gas?
Directly from CLNZ Books, with worldwide shipping and secure payment by credit card or PayPal.