Benny Andersson detailed the plans of the Swedish band for 2020 in a clip posted by fandom site ABBA Talks.
The Swedish vocalist announced that new music material is "coming this year," without revealing any specific release date.
"I'm guessing after the summer. But I can only guess, because I'm not really sure. But I would think so. One shouldn't promise anything but if I were to decide myself, it would be September. I can't make that decision alone. But that's what we're aiming for," he added.
Details about ABBA's new musical venture are still scarce at this point, although the Swedish icons announced that they were planning on returning to the studio for the first time in 35 years back in 2018.
At the time, Bjorn Ulvaeus, Andersson and singers Agnetha Fältskog and Frida Lyngstad said in a statement that they had recorded two new songs, "I Still Have Faith in You" and "Don't Shut Me Down."
"I Still Have Faith in You" was originally due to premiere on BBC in December 2018, as the quartet was preparing a tour in which their music will be performed by virtual reality avatars.
"The decision to go ahead with the exciting ABBA avatar tour project had an unexpected consequence. We all four felt that, after some 35 years, it could be fun to join forces again and go into the recording studio," ABBA said in a statement at the time.
The release was later pushed back to early 2019, although the highly-anticipated song never arrived.
When asked about the musical inspiration behind "I Still Have Faith in You" and "Don't Shut Me Down," Ulvaeus said that he was "very proud of both songs."
"One of them is a pop tune, very danceable. The other is more timeless, more reflective, that is all I will say. It is Nordic sad, but happy at the same time," he revealed during the London premiere of "Mamma Mia! Here We Go Again" in July 2018.