Recent Updates — TGS
Transportadora de Gas del Sur S.A. filed condensed interim consolidated financial statements for the six-month period ended June 30, 2026. Total revenues increased by Ps. 131,970 million compared to the prior year, driven by higher volumes in Liquids Production and Commercialization (+Ps. 127,421 million) and Midstream services (+Ps. 19,284 million), partially offset by a decline in Natural Gas Transportation revenues (-Ps. 14,735 million). The company announced the Final Investment Decision for the Integrated NGLs Project, an estimated US$ 3,000 million investment expected to generate annual exports of approximately US$ 1,200 million over four years. Additionally, the Ministry of Economy approved the project's inclusion in the Incentive Regime for Large Investments (RIGI) effective April 30, 2026. The company operates in the Argentine natural gas transportation and midstream services industry.
Transportadora de Gas del Sur S.A. reported comprehensive income of Ps. 133,145 million (Ps. 176.88 per share) for the second quarter ended June 30, 2026, compared to Ps. 53,780 million in the prior year period. Operating profit increased by Ps. 52,661 million to Ps. 216,327 million, driven by higher revenues in the Liquids Production and Commercialization segment and positive variations in other operating results. The company reached Final Investment Decision for its Integrated NGLs Project, requiring an estimated US$ 3.0 billion investment with operations expected to begin in March 2030. Additionally, the Ministry of Economy approved adherence to the Incentive Regime for Large Investments (RIGI) for a gas pipeline expansion project. Credit ratings were upgraded by S&P Global Ratings and Moody’s Ratings during June and July 2026. Net debt rose to Ps. 497,604 million as of June 30, 2026. The company operates in the natural gas transportation and midstream industry.
Moody's upgraded the credit rating of Transportadora de Gas del Sur S.A. notes from B2 to B1 on July 23, 2026. This rating upgrade follows a corresponding upgrade of Argentina's sovereign debt rating. The company operates in the energy sector, providing natural gas transportation services.
S&P Global Ratings upgraded Transportadora de Gas del Sur S.A. long-term local and foreign currency debt ratings from "B-" to "B" on June 11, 2026, following a revision of Argentina's transfer and convertibility risk assessment. The company operates in the energy sector as a natural gas transportation company.
Transportadora de Gas del Sur S.A. executed commercial agreements for its Integrated NGLs Project, involving counterparties YPF S.A., Pluspetrol S.A., Pluspetrol Cuenca Neuquina S.R.L., and Chevron Argentina S.R.L. The project involves a US$ 1.1 billion investment by PGS to build a 100 km pipeline and processing plant in Neuquén, and a US$ 1.9 billion investment by MGS, including a 577 km liquids pipeline, fractionation plant, and marine terminal in Bahía Blanca to enable US$ 1.2 billion in annual exports. Transportadora de Gas del Sur S.A. operates in the energy sector, providing gas transportation and processing services.