A mega investment in gas with the incentive regime for large investments

A mega investment in gas with the incentive regime for large investments
A mega investment in gas with the incentive regime for large investments

After the approval of the Law Bases and the Large Investment Regime (Rigi), Transportadora de Gas del Sur (TGS), owned by Pampa Energía (Marcelo Mindlin) and the Petrochemical Investment Group (Daniel Sielecki), announced the first large investment, for about US$ 700 million.

It will be the first time that TGS will put its own funds into the regulated gas transportation system, after decades of frozen rates.

The directors of TGS presented two proposals to the Ministry of Economy and the Ministry of Energy, for 700 million dollars.

The objective is to obtain commercial savings on imports of US$ 700 million and tax savings of US$ 500 million.

The proposed works

On the one hand, the companies propose the expansion of 14 million m3 per day in the transportation capacity of stage 1 of the Presidente Néstor Kirchner Gas Pipeline (GPNK I), which runs from Treatyén (Neuquén, at the Vaca Muerta exit) to Salliqueló (Buenos Aires).

The investment estimate is around US$500 million and would be opened to a private competition for interested parties.

This stage will first replace and then complement the construction of the second section of the GPNK, which would go from Salliqueló to San Jerónimo (Santa Fe) at 15% of the total cost projected in GPNK II – estimated at US$ 2.5 billion.

If the Government approves the TGS proposal, it must declare it of public interest and call for tenders with an award date before November 1, 2024, if it wants to have the work completed in winter 2026.

At the same time, TGS will commit to allocating 200 million dollars in the “final sections”, in the City and Greater Buenos Aires.

Caputo in Vaca Muerta

The Minister of Economy, Luis Caputo, toured wells that the oil company YPF has in the unconventional megafield of Vaca Muerta, where there are heavy investments.

He did it together with the president of YPF, Horacio Marín, and the governor of Neuquén, Rolando Figueroa. The tour included several facilities that the company has near Añelo.

“Impressive,” Caputo posted on social media.

This year Neuquén will receive the highest level of oil investments in its history, with some 8,629 million dollars, according to the plans presented by the operators to the National Energy Secretariat.

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