Perito Moreno Gas Pipeline expansion (ex-GPNK) - TGS
Why this project exists (systemic effect / derived demand): the expansion of the Perito Moreno Gas Pipeline (ex-GPNK) by +14 MMm3/d of capacity (confirmed in Res. 676/2026) is meant to evacuate the incremental gas from a Vaca Muerta running at full capacity - the production the investment regime is scaling has to get out one way or another. Transport demand is real and measured: the open season received bids for >32 MMm3/d, more than double what is being built. Operational before the 2027 winter; commitment of 20% to local suppliers and 40% of the amount in the first 2 years. La Pampa captures the investment because the pipeline crosses it (spillover effect), not because it joined the RIGI: the regime works cross provincial borders, no matter who produces the gas.
The projectwhat it is, the route, the owners, the works and the contractors
Who owns it
Transportadora de Gas del Sur (TGS) verif May 13, 2026 ↗
The works, milestone by milestone
Estimated start of operation declared by TGS SD1. The contract also sets April 30, 2027 as the deadline for full commissioning.
Deadline to certify the minimum investment amount in eligible assets, set by article 4 of the ruling.
Second round of the open season: bids for more than 100 million cubic metres per day for the 9 million still available. The first round had already awarded 5 million m³/day, paid in full up front.
SACDE publishes the scope of its contract: eight works running at once across some 1,000 kilometres and three provinces, and automatic welding of the 20-kilometre 36-inch loop with more than twenty welders trained at its own welding school.
The Ministry of Economy approves the accession through Resolución 676/2026, signed by Luis Caputo.
The RIGI Project Evaluation Committee meets and recommends approval, and TGS SD1 completes its filing: this is the accession date and the date the regime's rights are acquired.
The first open season draws requests for more than 32 million cubic metres per day, nearly triple what was offered at that stage. The expansion phase puts an additional 14 million m³/day in play: 12 to Greater Buenos Aires and 2 to the Bahía Blanca hub.
TGS announces the start of works and launches the two open seasons for capacity: GPM N° 01/2026 for 14 million cubic metres a day between Tratayén and Salliqueló, and TGS N° 01/2026 for the final sections.
TGS issues an international bond of USD 500 million over ten years, with a 7.75 % coupon and a final financing cost of 8 %; it receives bids for more than USD 1,300 million.
Declared start date of the eighteen-month construction period, as TGS SD1 filed it with the RIGI. It runs six months ahead of the ruling that approves the accession.
Energía Argentina's board awards the work to TGS through Resolución EA N° 004/2025, following an evaluation report recommending the award. The financial proposal opened on September 22 came to USD 0.69 per million BTU, net of VAT.
Bid opening: only one is submitted, from TGS S.A.
ENARSA publishes National and International Public Tender GPM N° 01/2025: execution and financing of the Section I expansion by 14 million cubic metres a day, with an option for up to 6 more, plus operation and maintenance of the infrastructure. The tender documents are free and the bid bond is USD 5,000,000.
Decreto 1060/2024 declares TGS's private initiative to be of national public interest and folds the works into ENARSA's concession.
TGS files the private initiative «Incremento de la capacidad de Transporte Gas Natural, en la ruta Tratayén – Litoral Argentino» with the Ministry of Economy, file EX-2024-64657124-APN-DGDA#MEC. It is supplemented on September 23 and on November 8 and 15; on the 15th the company undertakes to terminate its operation and maintenance contract with ENARSA if it is not awarded the work.
Who already has a contract
SACDE carries out the works for TGS. ⚠️ It is a related party of the client: TGS's own 20-F calls it «a related company», and in the first half of 2026 TGS recognised engineering and construction services from it for Ps. 6,415,276 thousand, capitalised as property, plant and equipment.
How to supply itwhere to register, what they ask for and what they will buy
How to become a supplier
Transportadora de Gas del Sur S.A. Sucursal Dedicada 1 (TGS SD1), CUIT 30-71881250-6, Cecilia Grierson 355, 26th floor, CABA. ⚠️ IT IS A DEDICATED BRANCH, set up in December 2024 to fit the project into the regime: the parent company assigned it the tender rights. For a supplier that means two legal entities of the same group are buying similar things, and only one of them is under the regime.
There are three tables and they should not be confused. (1) SACDE, which is running the eight simultaneous works and does the subcontracting in the field — that is the door for a construction supplier. (2) TGS, for equipment, regulated-system services and later operation and maintenance; its higher-impact tenders run through the SAP Ariba portal. (3) Energía Argentina S.A., which owns the concession and ran the original tender. ⛔ There is no supplier portal for THIS project with tender documents open to the public: the door is private, and you get in through SACDE or through TGS.
The registration routes that exist today, with their status. The one that is up and running is not always the official one.
SAP Ariba — TGS's tendering portal
up and running todayVerbatim from the owner's 2025 ESG report: «Las licitaciones de mayor impacto se gestionan a través del portal digital SAP-Ariba, donde evaluamos antecedentes y documentación. Cuando necesitamos profundizar la revisión, incorporamos auditorías externas. Durante 2025 gestionamos 418 licitaciones bajo este esquema» — higher-impact tenders run through the SAP Ariba portal, where the company assesses track record and paperwork, adding external audits where a deeper review is needed; 418 tenders were run this way during 2025.
Transport tenders and documents on the ENARGAS site
up and running todayThis is where the pipeline's open seasons for capacity are published, including GPM N° 01/2026 and TGS N° 01/2026 with their terms and technical documentation.
Go to the single windowabrirTenders of Energía Argentina S.A.
up and running todayThis is where the original tender for the works was published, with free tender documents, and where the state concessionaire's tenders appear.
Go to the single windowabrirWhat they ask you for
The short route for a mid-sized firm: not bidding yourself, but being named as a principal subcontractor in someone else's bid verif May 22, 2025 ↗Verbatim from the tender documents: «El Oferente podrá acreditar el cumplimiento de cualesquiera de los requisitos técnicos […] mediante la nominación en su propuesta de Subcontratistas Principales que posean la experiencia prevista» — a bidder may meet any of the technical requirements by naming principal subcontractors that hold the required experience.
The bidder thresholds, which are what shuts firms out: USD 40 million in net worth, USD 95 million in total assets and a USD 5 million bid bond verif May 22, 2025 ↗The tender documents require net worth of USD 40,000,000 or more at the last audited year-end and on average over the last two; total assets of USD 95,000,000 at the last year-end and USD 80,000,000 on average; meeting at least three of the five financial ratios in the standing table; a bid bond of USD 5,000,000; and the performance bond in dollars, with signatures certified before a notary, within five days of being notified of the award.
The technical experience required, which can be evidenced with track record going back up to twenty years verif May 22, 2025 ↗Two requirements. First, having operated and maintained gas pipeline transport systems «totalizing more than 200 km», including high-pressure pipelines of 20 inches or more in diameter, maximum operating pressure above 60 bar and installed power of 4,000 HP or more at compressor stations. Second, having installed, directly or through third parties, «al menos una estación turbocompresora de más de 8.000 HP» — at least one turbocompressor station of more than 8,000 HP — or an expansion involving the erection of a turbocompressor of that rating.
Certifying the technical standards in the tender documents: the ENARGAS NAG series, API 1104 for welding, and ASME verif May 22, 2025 ↗Annex 1 of the tender documents requires NAG-100 on safety for transport and distribution, NAG-108 on anti-corrosion coatings, NAG-126 on compressor station safety, NAG-148 on separation, metering and pressure-reduction stations, NAG-153 on environmental protection, API 1104 «Welding of Pipelines and Related Facilities» and sections VIII and IX of the ASME code, plus the rules of the National Roads Directorate, the provincial road authorities and Ferrocarriles Argentinos.
Spending at least 1 % of hours worked on training staff in safety, health and the environment verif Dec 31, 2025 ↗Verbatim from the owner's 2025 ESG report: «Solicitamos a nuestras empresas contratistas que destinen al menos el 1 % de las horas trabajadas a capacitar a su personal en seguridad, salud y ambiente, un requisito que se cumple e incluso se supera en la mayoría de los casos» — contractors are asked to devote at least 1 % of hours worked to safety, health and environmental training. Courses are taken on the digital platform the company built with the Universidad Tecnológica Nacional, Facultad Regional Bahía Blanca, and Resolución SRT N° 905/15 also applies.
Having started the filing with the Corporate Integrity and Transparency Register, and signing the owner's transparency clause and integrity programme verif May 22, 2025 ↗The tender documents require the bidder and every member of a joint venture or consortium to have started and evidenced its filing with the Corporate Integrity and Transparency Register. On the owner's side, the ESG report adds signing the transparency clause, adherence to the Integrity Programme and the Code of Conduct, and an anti-bribery clause in every purchase order.
The three new compressor stations go to La Pampa, the province with the highest local content floor in the country: 80%, with three years of prior local establishment required of the supplier. verif Oct 18, 2012 ↗Law 2675 obliges the holders of provincial permits, concessions and works-and-services contracts to contract «at least eighty per cent (80%) of labour, suppliers and services from La Pampa», and «the same requirement shall be met by subcontractors, and/or any other person or company that on any basis is carrying out tasks in provincial hydrocarbon areas» (art. 12). A La Pampa supplier requires legal domicile, head office in the province and three years of established presence evidenced by municipal licence and tax registration (art. 13). ⛔ Whether the article reaches this project is NOT settled: the law declares transport to be of provincial public interest, but art. 12 binds holders of PROVINCIAL permits and concessions, and the Gasoducto Perito Moreno is a transport system licensed by ENARGAS. ⚠️ The contrast that makes it urgent: the owner itself publishes where its suppliers come from —the metropolitan area, Buenos Aires, Neuquén, Río Negro, Chubut and Santa Cruz— and La Pampa appears in none of its three lists, with the three new compressor stations all there.
The order you get in by
Work out which of the three tables you are selling to: SACDE for field works, TGS for equipment or regulated-system services, Energía Argentina for the concessionaire's own tenders
Register as a TGS supplier to get into its tendering portal, which handled 418 tenders in 2025 according to the company's own report
If you are after a large work and your company falls short of the financial thresholds, get a bidder to name you as a principal subcontractor: the tender documents expressly allow it and it saves you having to show USD 40 million in net worth
Before bidding, budget for the 1 % of hours worked spent on safety, health and environmental training, and for the filing with the Corporate Integrity and Transparency Register
To sell transport capacity rather than services the route is a different one: the open seasons published on the ENARGAS site, with credit paperwork, two letters from first-tier banks less than thirty days old, and two audited annual accounts
What it will buy, and when
This is the rule's literal case: the +14 MMm³/d expansion exists to evacuate the incremental gas of a Vaca Muerta running flat out. While the pipeline is at its limit, what caps production is not the gas price but the pipe, and the transport works are bought before the well services.
Eighteen months of construction from Nov 1, 2025 through April 2027 on Section I, and operation and maintenance from Apr 1, 2027: the cut-off date between the two markets is published in the resolution.
From April 2027 the expansion leaves operation and maintenance on compressor stations and the route: inspection, spares, power and services, with a smaller and closer supplier than the construction one.
⚠️ And the counterweight, which comes from the owner's own report: the asset stays in La Pampa but the supplier network is not there. The company publishes that its works and services suppliers sit in the metropolitan area, Buenos Aires, Neuquén, Río Negro, Chubut and Santa Cruz, and that the network it is expanding is Neuquén's. Three new compressor stations in a province with none of the owner's registered suppliers is both the gap and the opportunity.
Each phase buys different things at different times. The links lead to the matching market or trade.
Expansion works on Section I of the pipeline
under wayVerbatim from the act: «filed an estimated schedule of the Project’s total investment describing a works or construction term of eighteen (18) months from November 1, 2025, and declares April 1, 2027 as the estimated start of operation». It adds 14 million cubic metres per day of capacity. The minimum investment deadline is Dec 31, 2026.
They are not buying any of this today. Open the phase to see the detail and arrive qualified the day it goes to tender.
Operation and maintenancefrom Apr 1, 2027not started4 ítems+
The approved purpose includes the operation and maintenance (O&M) of the infrastructure, not only its construction.
We cross what you manufacture or do against the 2 phases of this project and tell you which ones you fit into and when each one buys. Two pages, with the evidence behind them.
Analyze my companyWhat it leaves in La Pampajobs, works, taxes, promises and the outlook
The works that stay behind
The infrastructure that stays standing once the works end, with its size and its source.
New compressor plant at Casa de Piedra
PowerLa Pampa and the regulated transport system: the plant stays in the province once the works end, and the province did not join the regime — it captures the investment because the pipeline crosses it.
«installation of three new plants along the pipeline route» at «Casa de Piedra, Doblas and Chacharramendi, all of them in the Province of La Pampa».
New compressor plant at Doblas
PowerLa Pampa and the regulated transport system.
Second of the three new plants along the route, «all of them in the Province of La Pampa».
New compressor plant at Chacharramendi
PowerLa Pampa and the regulated transport system. ⚠️ Of the three sites, this one was already a TGS operating base: the company's new physical presence in the province is Casa de Piedra and Doblas.
Third of the three new plants along the route, «all of them in the Province of La Pampa».
Neuba pipeline loop: line running parallel to the trunk
Powerwith an extra 15,000 HP of compression
The regulated transport system: the incremental 14 MMm³/d becomes available to any shipper that contracts firm capacity, not only to whoever pays for the works.
«installation of 20 km of pipeline parallel to the trunk line» and «15,000 additional HP on the Neuba III pipeline»; the expansion adds «14 MMm3/d» and the works «will be in service by the winter of 2027».
- What it already pays in taxes and royalties — We have not broken down this project’s local fiscal contribution: the primary source that sets each item still has to be opened, and an act of the State is not published on press backing.
- Who promised what — We have not surveyed the public promises about this project. A dated, verifiable commitment with its source closes them.
What could stall itrisks and how to track them
- What could stall it — We have not documented this project’s risks. An identifiable vector with its source closes them.
- How to tell whether it is advancing — We have not defined this project’s indicators: what observable fact marks its progress still has to be identified.
How we verified thisthe act, the gaps and the sources
The RIGI act, in detail
EX-2025-119427774- -APN-SCEYM#MEC verif May 13, 2026 ↗
Apr 30, 2026 verif May 13, 2026 ↗
The act’s articles, in detail
3 facts on the commitment
20 % of the amount earmarked for suppliers that goes to LOCAL suppliers verif May 13, 2026 ↗
The entire investment amount (not narrowed to the amount earmarked for suppliers) verif May 13, 2026 ↗
Transportadora de Gas del Sur S.A. Sucursal Dedicada 1 (TGS SD1), tax ID 30-71881250-6, registered at Cecilia Grierson 355, Floor 26, Buenos Aires City. verif May 13, 2026 ↗
What we could not confirm
There are 2 in this project. Each says why it could not be confirmed and what it would take to close it.
H-01How many people the construction employs and how many stay working in operation+
No RIGI admission resolution publishes the figure: the seventeen that are published state that the company «provided the estimate of direct and indirect employment of the Project with local integration» and do not transcribe it. The official RIGI portal publishes a single figure that adds direct and indirect jobs together and does not separate the two stages, and mixing them is exactly the error the `empleo` field exists to prevent.
H-02How much of this work La Pampa can capture, which is where the three new compressor stations go+
The owner publishes where its suppliers are, and La Pampa appears on none of its three lists: works and services in the metropolitan area, Buenos Aires — chiefly Bahía Blanca —, Neuquén, Río Negro, Chubut and Santa Cruz; materials in the metropolitan area, Neuquén and Bahía Blanca; machine spares in the United States, Germany, Italy and Russia. And where it says it is expanding the network is Neuquén, «en función del avance de nuevos proyectos en la región de Vaca Muerta». ⇒ there is a gap between where the works are built and where the buying happens, but no published figure measures it in pesos: the ruling's local-content commitment is 20 % of the total investment and it is national, not provincial.
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