Argentina's TGS proposes $500 million investment to boost Vaca Muerta transport capacity (updated)

Transportadora de Gas del Sur SA

19/06/2024 16:26

(Updates with quote from executive)
       BUENOS AIRES, June 19 (Reuters) - Argentine gas
transportation firm TGS said on Wednesday it has proposed
investing $500 million to expand the transport capacity of the
Nestor Kirchner gas pipeline, which moves out of the massive
Vaca Muerta shale reserve.
    The investment from Argentina's largest gas transporter
would depend on a government decision to go forward with the
expansion project and solicit bids, the company said.
    An expansion would have "an important impact on
(Argentina's) trade balance and fiscal savings," TGS CEO Oscar
Sardi told journalists.
        Vaca Muerta is believed to be the world's second-largest
shale reserve. The government has poured investments into the
area, hoping to boost domestic production to make up for a vast
energy deficit.
  
        TGS presented the economy ministry with its proposal
earlier on Wednesday, Sardi said.
  
        
  

 (Reporting by Eliana Raszewski; Writing by Kylie Madry; Editing
by Sarah Morland and Deepa Babington)
 ((Kylie.Madry@thomsonreuters.com;))