Argentina’s TGS to invest USD 3 billion in Vaca Muerta NGL project

BUENOS AIRES, March 12, 2026 – Argentina’s Transportadora de Gas del Sur (TGS) has said it will invest USD 3 billion in a new NGL project in Vaca Muerta to support shale development and lift exports, Reuters reported on Wednesday.

The project will include new gas processing facilities at the company’s Tratayen plant and a multi-product pipeline to Bahia Blanca port. It will be developed over a period of approximately four years and is expected to generate approximately USD 1.2 billion in annual exports.

TGS said it will finance part of the investment with its own capital and is working with international banks to secure the rest. The company plans to submit the project to Argentina’s promotional regime for large investments (Régimen de Incentivo para Grandes Inversiones, or RIGI), which introduced tax and customs incentives for companies in the energy, mining and infrastructure industries in 2024.

TGS operates more than 9,248 kilometres of gas pipelines in Argentina and engages in NGL processing, fractionation and dispatch from its Cerri Complex in Bahia Blanca. The company is owned by CIESA holding (53.83%) and Argentine national social security administration ANSES (25.33%), with the balance in free float in the NYSE and BYME.

Speaking at a press conference in New York, Pampa Energía chairman Marcelo Mindlin said the project is essential for the development of Vaca Muerta towards a target production of 1.5 million boepd by 2032. Pampa Energía co-controls TGS through a 50% stake in CIESA.

Photo courtesy of TGS

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