Despegue ← Projects Proyecto RIGI
The 31 projectsPROJECT ▾
Neuquén
YPF 'LLL Oil' (shale-oil mega-development)Pluspetrol - Bajo del Choique / La InvernadaTecpetrol - Los Toldos II EstePampa Energía - Rincón de ArandaTGS - Natural gas liquids (NGL) project, Tratayén - Bahía BlancaAmpliación Mega - natural gas liquids (NGL)
San Juan
Vicuña (Josemaría + Filo del Sol) — copper, gold and silverEl Pachón - copper, silver and molybdenum (Glencore)Los Azules — copper cathodes (McEwen Copper)Gualcamayo — Deep Carbonates (DCP): gold and silver (Minas Argentinas)Leaching Phases 8 and 9 expansion — Veladero Mine (gold)
Catamarca
Agua Rica / MARA — copper, gold, silver and molybdenum (Glencore)Salar Tres Quebradas (3Q), stage 2 — lithium carbonate (LIEX/Zijin)Fénix — Phase 1B Expansion: lithium carbonate (Minera del Altiplano / Rio Tinto)Hombre Muerto Oeste (HMW) — lithium carbonate (Galan)
Río Negro
Argentina LNG (YPF, Eni and XRG)Southern Energy - floating LNG (Argentina LNG, Hilli phase)Vaca Muerta Oleoducto Sur (VMOS)San Matías Gas Pipeline (San Matías Pipeline S.A.) - evacuation of Vaca Muerta gas to the Atlantic
Salta
Pozuelos-Pastos Grandes (PPG)Rincón Project — lithium carbonate (Rio Tinto)Diablillos — gold and silver (Salta/Catamarca)Sal de Oro II — lithium carbonate (POSCO)
Buenos Aires
Fértil Pampa — urea and ammonia plant in Bahía BlancaSidersa Argentine Steel Project — long steel productsOlavarría Wind Farm (P.E. Olavarría) — wind generation (GEAR I / PCR + ArcelorMittal Acindar)
Mendoza
PSJ Cobre Mendocino (San Jorge) — copper and goldEl Quemado Solar Park and Annexes — photovoltaic generation (Luz del Campo SA / YPF Luz)
Jujuy
Cauchari-Olaroz Expansion — lithium carbonate (Exar)
La Pampa
Perito Moreno Gas Pipeline expansion (ex-GPNK) - TGS
Santa Fe
Timbúes Multipurpose Terminal — port infrastructure (Terminal Timbúes SA)
ESEN
up to date · reviewed Oct 15, 2026
Energy - gas transport infrastructure (midstream)/Río Negro
approved

San Matías Gas Pipeline (San Matías Pipeline S.A.) - evacuation of Vaca Muerta gas to the Atlantic

total investment in the act
1.300USD M
Capacidad de transporte nominal
28MMSCMD
Diámetro nominal
36inches
Presión máxima admisible de operación (MAPO)
98kg/cm²g
operator
San Matías Pipeline S.A.
verif Feb 2026 ↗million standard cubic meters per day

A ~472 km pipeline linking Tratayén (Neuquén) with San Antonio Oeste, on the San Matías Gulf (Río Negro), with capacity to carry ~27 MMm3/d of Vaca Muerta gas. It is the transport piece feeding Southern Energy's floating LNG project (vessels Hilli Episeyo and MKII). Construction start projected for May 2026; the adhesion resolution estimates the start of operation for May 1, 2028; ~1,500 construction jobs; projected exports ~USD 2,500 M/yr. It closes the Neuquén gas monetization chain: it is the evacuation infrastructure the observatory's thesis identifies as a critical bottleneck.

Summary
share among the 24 approved RIGI projectstotal USD 42,134 M
San Matías Gas Pipeline3.1%
the other 23USD 40,834 M
what stage it is atunder construction verif Oct 5, 2026 ↗

How to supply it

what we have for a supplier, and how to request it

What we have on this project for a supplier

How to get in
3 registration routes, with their status · 23 requirements with the rule that sets each one · 13 steps in order, with their timing

Who decides the purchase, who you invoice and where a new supplier registers.

What it buys and when
2 phases, with what each one buys · 1 happening now

Which lines each phase buys and when the window opens for each one.

What it is missing
2 services it will need and has no supplier for yet

Which they are, why it will need them and who could provide them.

Who is already in
4 companies with a contract on the works · 1 with their own purchasing door

Who they are, what each one does and how to sell to them.

All of this is surveyed and verified against its source. Crossed with what you sell —which of them your products suit, how to reach it and when— it is in your company report. Request the report

Does your company fit into San Matías Gas Pipeline?

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.

Where my company can get in

The project

what it is, the route, the owners, the works and the contractors

What it is and why it exists

A 480-kilometer, 36-inch pipeline carrying gas from Tratayén, in Neuquén, to San Antonio Oeste, on the Río Negro coast, to feed the two liquefaction vessels in the San Matías Gulf. It is built and operated by San Matías Pipeline, a company that exists solely for this: it does not produce gas or sell it, it transports it.

The vessels arrive before their pipeline does. Until this pipeline enters service, liquefaction is supplied with surplus gas travelling along the General San Martín pipeline — gas from the Austral and Golfo San Jorge basins — through a fifteen-kilometer link already completed. That route works to get started, but it is borrowed and it is seasonal: spare capacity only exists in months of low domestic demand. The dedicated pipeline is what turns a seasonal operation into a year-round one, and what connects the export chain to Vaca Muerta rather than to the south. That is why the same shareholders behind the LNG project set up a separate company, with its own RIGI application, to finance it.

Where it runs and how much it can move

Route

Tratayén (Añelo, Neuquén) → San Antonio Oeste (Río Negro). 472.5 km in total: 29 km in Neuquén and 443.5 km in Río Negro verif Feb 2026 ↗

Neuquén section

29 km, running broadly west to east, entirely within the Añelo department, crossing areas allocated to hydrocarbon production verif Feb 2026 ↗

Inlet pressure at Tratayén

68 kg/cm²g (minimum guaranteed from the feeding systems) verif Feb 2026 ↗

Arrival pressure at the San Antonio compressor station

40-45 kg/cm²g verif Feb 2026 ↗

Transport capacity under the RIGI adhesion act

27 million m3 per day verif Jun 26, 2026 ↗

Compression power of the new plant

60.000 HP, plus the repowering of the existing plant in San Antonio Oeste verif Jun 26, 2026 ↗

Head facility (Tratayén)

A site of roughly 190 × 400 meters, with four feeder systems that must meet transport and quality specifications suitable for LNG production. Includes a scraper launching trap and a Line Break valve (LBV) verif Feb 2026 ↗

Compressor plant

Allen, province of Río Negro, at kilometre 94.75 of the route: three Titan 130 turbocompressors of 17,500 kW at ISO conditions, two in operation and one on standby. It is the pipeline's only new compressor plant; the provincial government puts it at about 70,000 installed HP verif Dec 2025 ↗

Surface facilities

Scraper launching and receiving traps, sectioning valves and metering stations between the two ends. Along the rest of the Neuquén section the environmental impact assessment foresees no other surface facilities verif Feb 2026 ↗

Custody transfer metering station

San Antonio Oeste: fiscal metering station for custody transfer to the liquefaction plants. According to the environmental study, the pipeline ends at the «Planta Compresora San Antonio del Proyecto FLNG GSM» verif; the incentive regime resolution also provides for upgrading the existing compressor plant at San Antonio Oeste verif. verif May 22, 2026 ↗

Who owns it

What San Matías Pipeline S.A. is as a company

It is not a company incorporated from scratch: it is Pan American E&P S.A. renamed and with a narrowed corporate purpose. Resolución 873/2026 states that on 17 October 2025 «la firma Pan American E&P SA (CUIT N° 30-71703621-9)» applied to join the RIGI, and that afterwards «la solicitante modificó su estatuto social a los fines de su adecuación a los requisitos» of the regime: «efectuó el cambio de su denominación societaria de Pan American E&P SA por la de San Matías Pipeline SA (artículo 1° del nuevo Estatuto), y también adecuó su Objeto Social (artículo 4° del Estatuto), a fin de limitar su actividad exclusivamente al proyecto por el cual solicita su adhesión como Vehículo de Proyecto Único», under article 169 of Ley 27.742. The shareholding was updated by Minute No. 27 of 30 March 2026 verif Jun 26, 2026 ↗

Domicile required by the Acta

The Acta sets as a project condition that San Matías Pipeline S.A. establish legal and tax domicile in the Province of Río Negro, without prejudice to keeping its actual seat of operations in the City of Buenos Aires. The same condition applies to Southern Energy S.A. verif May 4, 2026 ↗

Condition precedent on the pipeline

As regards San Matías Pipeline S.A., the Agreement was made conditional on its investment project obtaining RIGI accession, and was limited to the terms on which the national Ministerio de Economía approved the application verif May 4, 2026 ↗

Signatory for both companies

Rodolfo Heriberto Freyre signed the Acta as Chairman of Southern Energy S.A. (CUIT 30-71898858-2) and of San Matías Pipeline S.A. (CUIT 30-71703621-9) verif May 4, 2026 ↗

What other projects it links to

What this project enables or needs outside the province, and through what mechanism.

NeuquénShared route and reuse of construction camps with YPF's Vaca Muerta Sur oil pipeline (VMOC-VMOS) verif Feb 2026 ↗+
The Environmental Impact Study states that «se compartirá la traza con el Oleoducto VMOC-VMOS que se encuentra siendo construido por YPF» and that «se evaluará la posibilidad de reutilizar los sitios empleados por los obradores de dicho proyecto», to be defined at Detailed Engineering verif Feb 2026 ↗
Río NegroThe pipeline is the supply infrastructure for Southern Energy's FLNG Project: without it the two plants do not operate year-round verif May 4, 2026 ↗+
Decreto 439/26, ratified by Ley 5849, states that San Matías Pipeline S.A. will build a dedicated pipeline «que tendrá como finalidad el aprovisionamiento de forma continua de gas natural a las unidades flotantes de licuefacción». The consortium confirms it on its website: the project expects both terminals to operate year-round from 2028, «lo que supone la construcción de un gasoducto dedicado» verif verif May 4, 2026 ↗

The works, milestone by milestone

Oct 5, 2026work on the route

Work on the ground begins in Río Negro: the first excavations for the line start, along with the overland transfer of the pipes from the storage yard at the Puerto de San Antonio Este to the storage areas along the route. The first run is made by nine trucks from Cooperativa RioQuen, a Río Negro company, carrying four pipes per unit, each roughly 12 meters long and 36 inches in diameter. That same day the third pipe vessel of the 12 planned shipments is in port, some 40,000 pipes in total, which will require more than 9,950 truckloads

Sep 11, 2026financing

San Matías Pipeline, the consortium of PAE (30%), YPF (25%), Pampa Energía (20%), Harbour Energy (15%) and Golar LNG (10%), closes a USD 900 million syndicated loan against the project's own cash flow, over 7 years with 3 years' grace, led by Citi, J.P. Morgan, Santander and Itaú. The project's technical fact sheet gives August 2026 as the start of construction, mid-2028 as completion and USD 1,300 million of estimated investment.

Jun 26, 2026Condition precedent met

The Acta set, as regards San Matías Pipeline S.A., obtaining RIGI accession for its investment project as a condition precedent (art. 1.5). That accession came with Resolución 873/2026 of the Ministerio de Economía, published on 26 Jun 2026 verif ⇒ the condition was met 53 days after enactment

May 4, 2026Enactment and publication

4 May 2026. Enacted as Ley N° 5.849 by Decreto 465/26 and published in Boletín Oficial N° 6487, pp. 3-11, with the Acta Acuerdo and its Annex 1 in full

Apr 30, 2026Legislative approval

30 Apr 2026. Approved in general and in particular by a majority: 41 votes in favor, 3 against (García, Odarda and Spósito) and 2 absent (Frei and Lacour). Chaired by Pedro O. Pesatti

Apr 23, 2026Executive ratification

23 Apr 2026, Decreto 439/26 (DECTO-2026-439-E-GDERNE-RNE), File 070609-SEYA-2026 of the Secretaría de Estado de Energía y Ambiente. It declares the FLNG Project of public interest and sends the Acta to the legislature

Apr 14, 2026Acta Acuerdo signed

14 Apr 2026, City of Buenos Aires. Signed by: the Province of Río Negro through Governor Alberto E. Weretilneck; Southern Energy S.A. (CUIT 30-71898858-2) and San Matías Pipeline S.A. (CUIT 30-71703621-9), both represented by their Chairman Rodolfo Heriberto Freyre

Apr 8, 2026Public hearing held

Neuquén's Secretaría de Ambiente y Recursos Naturales confirms on its website that the public hearing on the Environmental Impact Study was held in the events hall of the «Leonardo Da Vinci» hotel, on Provincial Route 17 in Añelo, on the study filed by San Matías Pipeline S.A., and that there «se expusieron los aspectos técnicos y legales del proyecto, y se respondieron las consultas formuladas por los asistentes»

What it leaves in Río Negro

jobs, works, taxes, promises and the outlook

How many jobs it creates

In construction

Around 1,500 people in the construction of the pipeline and its surface facilities, according to the environmental impact study for the Río Negro section verif Dec 2025 ↗

In operation

40 direct jobs and another 100 indirect ones during operation, as stated in the legislative session that ratified the Acta Acuerdo prob Apr 30, 2026 ↗

The works that stay behind

The infrastructure that stays standing once the works end, with its size and its source.

Tratayén — San Antonio Oeste dedicated pipeline

Productive
no figureapproximately 480 km of 36-inch pipe, with capacity of 27 million cubic meters a day

San Matías Pipeline S.A. as owner, but the physical asset stays installed across Neuquén and Río Negro: it is capacity to move gas out of the basin that outlives the floating units justifying its construction today, and that can supply other demand if the destination changes.

The RIGI accession act describes a pipeline of approximately four hundred and eighty kilometers (480 km) in length and thirty-six inches (36 inches) in diameter, with a transport capacity of twenty-seven million cubic meters a day (27,000,000 m3/d), running from the Tratayén head station, in the province of Neuquén, to the San Antonio Oeste compressor station, on the Golfo San Matías, province of Río Negro

New compressor plant at Allen

Power
60,000

HP of total power

Río Negro's gas transport system. Once installed, compression power is fixed infrastructure: it is not dismantled when construction ends and it determines how much gas can move along the route in the future.

Verbatim from the act: «a los fines de alcanzar dicho volumen se instalará una (1) planta compresora con una potencia total de sesenta mil HP (60.000 HP), y se repotenciará la planta compresora existente en San Antonio Oeste, garantizando así el suministro continuo a las terminales del Golfo San Matías, ambas instalaciones ubicadas en la provincia de Río Negro»

Upgrade of the existing San Antonio Oeste compressor plant

Power
no figureno power rating published in the act

The existing transport system, which predates this project and continues after it: the upgrade improves a facility that is already in service.

The accession act states that, on top of the new plant, «se repotenciará la planta compresora existente en San Antonio Oeste». It publishes neither the added power nor the term

What it already pays in taxes and royalties

Item by item, with the rule that sets it. A rate is not the same as what is collected, nor what is received the same as what is projected.

5%Community Contribution (one-off) verif May 4, 2026 ↗+
USD 36,000,000 in total, in four tranches: SESA pays USD 6,000,000 within 90 days of legislative ratification and another USD 6,000,000 within 30 days of the start of commercial operation of the first FLNG (Hilli Episeyo); San Matías Pipeline S.A. pays USD 12,000,000 within 90 days of ratification and another USD 12,000,000 within 30 days of the start of commercial operation of the Dedicated Pipeline verif May 4, 2026 ↗
Base: A fixed dollar amount, payable in pesos at the Banco de la Nación Argentina selling rate of the business day before payment
Who it goes to: a mixed split
Acta Acuerdo art. 5.1, ratified by Ley provincial 5849 — the split to the municipality is set by art. 4 of the law itself
Variable Community Contribution (annual, payable by Southern Energy S.A. only) verif May 4, 2026 ↗+
Full scale: above 10 US$/MMBTU → USD 20,000,000 · above 9.75 and up to 10 → USD 17,500,000 · above 9.50 and up to 9.75 → USD 12,500,000 · above 9 and up to 9.50 → USD 10,000,000 · above 8.75 and up to 9 → USD 2,000,000 · above 8.50 and up to 8.75 → USD 1,500,000 · above 8.25 and up to 8.50 → USD 750,000 · below 8.25 US$/MMBTU no payment is due verif May 4, 2026 ↗
Base: A scale on the year's LNG FOB INDEX, in US$/MMBTU, defined as 1/3 BRENT INDEX + 1/3 HH INDEX + 1/3 JKM INDEX
Who it goes to: the province
Acta Acuerdo art. 5.2, ratified by Ley provincial 5849
Operational Control and Oversight Fee for Hydrocarbon Transport verif May 4, 2026 ↗+
The assigned pipeline area of San Matías Pipeline S.A.'s Dedicated Pipeline is 6,220,900 m² and that of Southern Energy S.A. (onshore pipeline plus the two offshore pipelines of the Hilli and the MKII) is 420,000 m². The Inspection Cost is $215 per square meter, adjustable annually by INDEC's Consumer Price Index every 31 January verif May 4, 2026 ↗
Base: Pipeline area assigned to the project (m²) × Inspection Cost ($/m²)
Who it goes to: the province
Ley provincial N 5.594 art. 11; formula and parameters set in Acta Acuerdo art. 4.4
USD 1,220,000Fee for special use of the coastal public domain, water royalties and fee for use and protection of water bodies verif May 4, 2026 ↗+
USD 1,220,000 a year, payable by Southern Energy S.A., in advance by 31 January each year from the first year of actual water use verif May 4, 2026 ↗
Base: A fixed annual dollar amount, payable in pesos at the Banco Nación selling rate
Who it goes to: the province
Ley Q 2.951 art. 45 and Ley Q 2.952 arts. 43 and 172; Acta Acuerdo art. 4.3
Environmental inspection, control and oversight fee verif May 4, 2026 ↗+
Pipeline transport fee = (L × CoefL + C × CoefT) × UV, with CoefL 4.10 UV per km and CoefT 2.50 UV. The declared length is 444.35 km for San Matías Pipeline S.A. and 20 km for Southern Energy S.A., with maximum capacity of 26,500 thousand m³/d in both cases. In addition, payable by SESA only: tank storage fee (volume 273,000 m³ × CoefA 1.00 UV × UV), loading terminal 1,500 UV and loading point 500 UV for each of the 3 points. Special waste generator fee, category 5: 1,414.3 UV. Monthly control and oversight fee for the construction stage: 300 UV verif May 4, 2026 ↗
Base: Formulas in Units of Value (UV) based on pipeline length, transport capacity, tank volume and loading points
Who it goes to: the province
Ley M N 3.266 and Resolución SEEA 170/25; formulas set in Acta Acuerdo art. 4.5

Who promised what

Who promised what, with a date and with how to check it. We record them whatever the political colour.

not startedSan Matías Pipeline S.A. · Setting a minimum percentage of local labor hiring in the tender documents verif Feb 2026 ↗+
Project applicant · 2026-02-13
How it is checked: By opening the tender documents for the works. The Environmental Impact Study commits to the tender documents including it, but does not set the number.
not startedSan Matías Pipeline S.A. · Measuring the percentage of local labor hired, the percentage of women resident in the province hired and the percentage of purchases from local suppliers against the total, and reporting each month the number of local jobs created and of contracts with local suppliers verif Feb 2026 ↗+
Project applicant · 2026-02-13
How it is checked: The reports go to Neuquén's Secretaría de Ambiente y Recursos Naturales and to the provincial Ministerio de Trabajo y Desarrollo Laboral, with monthly monitoring and annual audits under the environmental management plan itself.
not startedSan Matías Pipeline S.A. · Setting up CV drop-off points coordinated with the municipal Employment Office and publishing contact details for enquiries verif Feb 2026 ↗+
Project applicant · 2026-02-13
How it is checked: By checking with Añelo's Employment Office whether the channel exists and is open.
not startedProvince of Río Negro · Reporting to the companies, within 90 calendar days of each calendar year's end, that the Community Contribution funds were duly allocated to the agreed purpose verif May 4, 2026 ↗+
Contaduría General de la Provincia · 2026-05-04
How it is checked: The Acta requires the allocation of funds to be included in the provincial Budget Law: the budget is checked against the agreed purpose.
not startedMunicipality of San Antonio Oeste · Using the 5% of the Community Contribution exclusively on the municipality's projects, equipment or infrastructure works, with prior provincial approval verif May 4, 2026 ↗+
Municipal Executive · 2026-05-04
How it is checked: Ley 5849 conditions the transfer of the funds on approval by the Provincial Executive through a monitoring committee appointed by regulation: the existence of that committee and its approvals are the checkpoint.

What changes in Río Negro if the project works

The Investment Committee set 1 May 2028 as the start of operations. From that date there are 27 million cubic meters a day of firm capacity between Neuquén and the Atlantic that did not exist before.

What that means for the territory is not the pipeline: it is what stays buried and what stays standing. A new 60,000 HP compressor plant at Allen and the upgrade of the existing one at San Antonio Oeste are fixed infrastructure that outlives the vessels justifying them today, and that sets how much gas can move along that route for decades.

The two years of construction are the short window, and the largest. The peak is around 1,500 jobs, and the spending that reaches the town is not engineering: on the neighboring project along the same corridor, the most contracted category was staff transport, followed by catering, accommodation and fuel. That is demand a small services firm can serve without risk capital, and it is contracted through the contractor, not the project owner.

And there is an asymmetry worth knowing before investing. The pipeline crosses two provinces with two different local-content regimes: on the Río Negro side the obligation reaches contractors and subcontractors regardless of size; on the Neuquén side it reaches services, engineering and construction firms only when they are large under the tax classification. The same works, two sets of rules.

What breaks itThat construction fails to meet the calendar. The 480 kilometers are laid in twenty-four months and the first vessel already has a date before that, so the margin is months, not years. The observable indicator is the physical sequence: pipe at the port is not pipe in the trench, and to date no open source publishes progress with a numerator and a denominator.

Outlook to 2028, built on the verified data of this page and our analytical framework. We also publish what would invalidate it.

What could stall it

risks and how to track them

What could stall it

Each risk, with who or what could trigger it.

regulatorio3
precio1
tecnico1
5 riesgos
precioThe variable contribution behind the «more than USD 490 million over 20 years» figure can be zero, and it is lawful for it to beAn international LNG price below the agreed floor verif May 4, 2026 ↗+
The Acta provides that if the year's LNG FOB INDEX comes in below 8.25 US$/MMBTU no Variable Community Contribution payment is due. The index is calculated as 1/3 BRENT INDEX + 1/3 HH INDEX + 1/3 JKM INDEX, where BRENT INDEX = 0.1 × the Brent price, HH INDEX = 1.15 × the Henry Hub price + 3.1 and JKM INDEX = 0.8 × the JKM price verif May 4, 2026 ↗
tecnicoThe variable contribution also does not accrue unless both plants run close to full capacityDelay or under-utilization of either of the two FLNGs verif May 4, 2026 ↗+
The Variable Community Contribution applies only in years in which both FLNGs have operated at no less than ninety per cent (90%) of their annual nameplate capacity verif May 4, 2026 ↗
regulatorioDisputes with the Province are settled by international arbitration outside ArgentinaA dispute over the application, scope or interpretation of the Acta or of the RIGI incentives verif May 4, 2026 ↗+
The Acta submits disputes to the Arbitration Rules of the International Chamber of Commerce, with three arbitrators, and establishes that the seat of arbitration will be Paris, France, in Spanish. No arbitrator may be a national of Argentina or of the country of incorporation or registered office of the companies' partners or shareholders verif May 4, 2026 ↗
regulatorioThe benefits are vested rights: reversing them by a later law is not enoughA change of provincial government or repeal of the ratifying law verif May 4, 2026 ↗+
The Acta declares that the incentives of articles Four (tax regime), Five (community contribution), Eleven (tax stability), Twelve (regulatory stability) and Thirteen constitute vested rights akin to property, protected by article 17 of the National Constitution and article 29 of the Constitution of the Province of Río Negro, and that they may not be affected either by repeal of the law that brings them into force or by the creation of more onerous rules verif May 4, 2026 ↗
regulatorioRegulatory stability can give way on safety grounds, but through a procedure the company can triggerNew provincial rules grounded in the project's safety verif May 4, 2026 ↗+
Regulatory changes grounded in technical reasons connected with the project's safety are excluded from the guarantee. But if those changes entail additional costs that significantly limit the activity, the companies are released from complying if they evidence, through a report from an independent technical body of recognized standing chosen by the Province from a shortlist of three they propose, that alternative measures of equivalent effect exist. The Province has ten business days to choose; if it does not, the companies appoint the body verif May 4, 2026 ↗

The permits the works need, and where each one stands.

Environmental Impact Assessment — Neuquén section (file EX-2026-00239697-NEU-SARN#MTUR)

Public hearing called by notice in the Neuquén Official Gazette of 13 February 2026 (pp. 76-77), under arts. 24 and 31 of Ley 1875, art. 13 of Annex II of Decreto 2656/99 and arts. 90 and 93 of the Provincial Constitution. It was set for 8 April 2026, 11:00, at the «Leonardo Da Vinci» Hotel, RP 17, Añelo. NON-BINDING on the enforcement authority: the proceedings are recorded in minutes added to the file for its consideration verif Feb 13, 2026 ↗

How to tell whether it is advancing

Observable facts that show whether the project is advancing, and where to look for each.

trimestralPayment of the first tranche of SMP's Community Contribution (USD 12 M)+
Where: Río Negro's provincial budget and the Contaduría General's annual report provided for in art. 5.3 of the Acta
The deadline fell 90 days after the legislative ratification of 30 Apr 2026. If the payment does not appear, the delay is the pipeline's, not the LNG plant's.
mensualAppointment of the monitoring committee for San Antonio Oeste's 5%+
Where: Río Negro's Boletín Oficial — the implementing decree of Ley 5849
Without that committee there is no approval, and without approval the funds are not transferred to the municipality. It is the real bottleneck for the municipal money.
trimestralAnnual LNG FOB INDEX (1/3 Brent + 1/3 Henry Hub + 1/3 JKM, with the coefficients of art. 5.2)+
Where: ICE Brent Crude Futures and NYMEX Henry Hub Natural Gas Futures quotes and the DES Japan/Korea Marker table of Platts LNG Daily (symbol AAOVQ00)
Below 8.25 US$/MMBTU the Province collects no variable contribution. It is the number that decides whether the «more than USD 490 M» package looks like what was promised.
trimestralMunicipalities along the route joining Ley 5849+
Where: Municipal ordinances of the municipalities in whose jurisdiction the works take place
Art. 6 only invites them. Each accession decides whether the supplier's tax saving also applies at municipal level on that stretch.
trimestralGrounds for exemption from the 60% reported by Obligated Parties+
Where: The Río Negro Suppliers Register, which under art. 10 of Ley 5805 must keep a record of the grounds reported
Each exemption declared for «no qualified local supplier exists» is a supply gap flagged by the State itself: it is the map of where local competition is missing, published by whoever measures it.
semanalProject contracts published in Módulo Compre RN+
Where: https://acceso.inprosistema.com.ar/ — use of the platform is the mandatory and conclusive means of evidencing the duty to invite local suppliers
It is where the opportunities appear before they are awarded. A requirement that did not go through it does not evidence the duty to invite, and the contract may end up counting as non-local for the Obligated Party.

How we verified this

the act, the gaps and the sources

The RIGI act, in detail

Administrative file number

EX-2025-115741321- -APN-SCEYM#MEC verif Jun 26, 2026 ↗

Accession date

Jun 1, 2026 verif Jun 26, 2026 ↗

Date of the act

25 June 2026 verif Jun 25, 2026 ↗

Publication in the Boletín Oficial

26 June 2026, notice 44737/26 verif Jun 26, 2026 ↗

The act’s articles, in detail

7 facts on the commitment
Local content set by the act

20 % of the investment amount that goes to LOCAL suppliers verif Jun 26, 2026 ↗

What that local content is calculated on

The entire investment amount, across the construction and operation stages, on the supply of goods and works verif Jun 26, 2026 ↗

Total investment declared in the act

1.300 USD million — total committed investment verif Jun 26, 2026 ↗

Vehículo de Proyecto Único

San Matías Pipeline S.A. (SMP SA), tax ID 30-71703621-9, with legal address at Av. Leandro N. Alem 1180, 9th floor, Buenos Aires City, according to the Acta Acuerdo of 14 Apr 2026 verif (when it applied for accession, in October 2025, it declared the 11th floor). verif Jun 26, 2026 ↗

Date the application was filed

17 October 2025, filed by Pan American E&P S.A. before the change of corporate name verif Oct 17, 2025 ↗

Date the Committee approved it

4 June 2026: the RIGI Project Evaluation Committee met and, per its Minutes No. 21, recommended approving the application and its investment plan verif Jun 4, 2026 ↗

Who oversees compliance

The Energy Secretariat of the Ministry of Economy, or whomever it delegates to, under article 219 of ley 27.742 (art. 8 of the resolution). The project vehicle is registered by the RIGI Coordination Unit in the Single Project Vehicle Registry created by decreto 749/2024 (art. 7) verif Jun 26, 2026 ↗

How much it commits to invest, and how it pays for it

2 facts on the investment
First and second year from notification

Evidence an investment in computable assets equal to or above forty percent (40%) of the minimum investment amount (art. 3) verif Jun 26, 2026 ↗

Deadline for the minimum investment amount

31 May 2027, under point (iii) of article 177 of ley 27.742 (art. 4) verif Jun 26, 2026 ↗

What the regime gives in return

4 benefits of the regime
Tax and customs

Art. 10 notifies ARCA of the application of the incentives in chapter IV of title VII of ley 27.742 verif Jun 26, 2026 ↗

Foreign exchange, with one exception the company itself requested

Art. 11 notifies the Central Bank of the application of the foreign exchange incentives in chapter V of title VII, «with the exception of the free availability of export proceeds provided for in article 198 of the aforementioned law, which was not requested by SMP SA» verif Jun 26, 2026 ↗

Duty-free imports

Art. 5 approves the list of goods the project vehicle may import under the exemption in article 190 of ley 27.742, identified as IF-2026-47590145-APN-DTD#JGM verif Jun 26, 2026 ↗

Dispute resolution

Art. 6 accepts SMP SA's election to settle disputes through the mechanisms in article 221 of ley 27.742 verif Jun 26, 2026 ↗

What we could not confirm

There are 15 in this project. Each says why it could not be confirmed and what it would take to close it.

H-01The Environmental Impact Declaration of Neuquén and Río Negro, with an act number+

The gazette notice convenes the hearing and the Environmental Impact Study is the document filed: neither of the two is the Declaration. The only lead, Resolución 672/2026 of Neuquén's environmental agency, appears in social media mentions and could not be opened. Golar LNG states to the market that environmental approval was obtained in both provinces, but that is a corporate document, not an act of the State.

What would close itNeuquén's Boletín Oficial with the Declaration resolution, or the resolution of Río Negro's environmental agency.
H-02The month-by-month staffing curve during construction+

The Environmental Impact Study —the document it was expected from— expressly says it does not exist at this stage: the headcount needed will depend directly on the work fronts opened. The project was at Basic Engineering when the study was made.

What would close itThe contractor's Detailed Engineering, or one of the monthly reports the environmental management plan requires.
H-03The minimum percentage of local labor hiring the tender documents must set+

The Environmental Impact Study commits to the tender documents carrying it, but does not publish the number. Without that figure the RIGI's 20% cannot be reconciled with the 60% of Río Negro's Ley 5805.

What would close itThe tender documents for the works, which are not public.
H-04The amounts and the register of easements+

The amounts per hectare or per kilometer and the number of properties agreed remain unpublished. What was settled on 20 Aug is the MECHANISM, through art. Three of the Acta Acuerdo ratified by Ley 5849: the Province grants the easements required where the land falls under provincial jurisdiction and guarantees access to existing municipal, provincial and national roads; the cost of obtaining any easement is borne by the companies; and if no agreement is reached with a landholder or occupier, the companies report it to the competent bodies and to the Province for its intervention. The Environmental Impact Study only provided the national framework (Ley 21.449).

What would close itThe agreements with landholders one by one, which are not public by design, or the Province's register of easements granted.
H-05The location of the construction camps+

The Environmental Impact Study states that it is not defined and that the contractor sets it at Detailed Engineering. Reusing those of YPF's VMOC-VMOS oil pipeline will be assessed.

What would close itThe contractor's Detailed Engineering.
H-06The text of Ley provincial 3.338 on Strengthening and Development of the Neuquén Value Chain+

The law is known only through what its enforcement agency (Centro PyME-ADENEU) publishes: that it requires covered parties to file a sworn statement and an annual supplier development plan with a minimum of three certified companies to develop. The text was not opened, and so it is not known who is covered as an obligated party nor at what threshold.

What would close itThe text of Ley 3.338 in Neuquén's Boletín Oficial and its implementing decree.
H-07The pipeline's capacity and length each have THREE different official figures+

Capacity: the Environmental Impact Study filed with Neuquén's environmental agency says 28 MMSMCD; the Acta Acuerdo ratified by Ley 5849 declares 26,500 thousand m³/d as the environmental fee's tax base; and article 1 of Resolución 873/2026 —the national act of State approving the RIGI accession— says «veintisiete millones de metros cúbicos diarios (27.000.000 m³/d)». Length: 472.5 km in the Environmental Impact Study (29 in Neuquén plus 443.5 in Río Negro), 444.35 km in the Acta for the Río Negro stretch, and «aproximadamente cuatrocientos ochenta kilómetros (480 km)» in Resolución 873/2026. They are three different acts with different purposes —technical, tax and regime classification— and they are neither averaged nor is the largest picked.

What would close itThe ENARGAS authorization with the route and capacity approved, which still has no open file. In the meantime all three are published with their source and their purpose.
H-08The value of the Unit of Value used to assess the provincial environmental fee+

The Acta Acuerdo sets the environmental fee's formulas and coefficients (Ley M N 3.266, Resolución SEEA 170/25) but does not publish what a Unit of Value is worth. Without that value the formulas cannot be converted into pesos and it is not possible to estimate how much the project leaves under that heading.

What would close itThe text of Resolución SEEA 170/25 or the provincial tax law setting the Unit of Value.
H-09The pipeline's length differs between two primary acts: 444.35 km (Acta Acuerdo) against 443.5 km for the Río Negro stretch (Environmental Impact Study)+

The Acta's figure is the declared tax base of the provincial environmental fee and covers only the Río Negro stretch; the Study's comes from the technical design. The difference is 0.85 km and is not settled by averaging.

What would close itThe route approved by ENARGAS, which likewise has no open file.
H-10Whether the municipalities along the route joined Ley 5849+

Art. 6 of the law only INVITES the municipalities in whose jurisdiction the works take place to join, and the Acta binds the Province only to «realizar sus mejores esfuerzos» and to «instar» the municipalities. It is a best-efforts obligation, not one of result: without an ordinance joining it, municipal fees and stability are not covered.

What would close itThe gazettes or digests of the municipalities along the route, starting with San Antonio Oeste.
H-11Whether the monitoring committee that must approve San Antonio Oeste's projects has been appointed+

Ley 5849 orders it created by regulation and makes the approval a condition for transferring the funds. The implementing decree was not found.

What would close itThe implementing decree of Ley 5849 in Río Negro's Boletín Oficial.
H-12The peso amount of the Control and Oversight Fee the pipeline pays+

Both factors are in the Acta (6,220,900 m² of pipeline area and $215 per square meter), but the inspection cost is adjusted by INDEC's CPI every 31 January and the Acta does not say from what base or from what date the first adjustment runs. Multiplying them today would be our own calculation presented as a fact.

What would close itThe provincial resolution setting the updated inspection cost, or the first payment receipt.
H-13Provincial Decreto 439/26 cites the national RIGI law as «Ley Nacional N° 27.242», twice+

The RIGI was created by Ley 27.742. The Acta Acuerdo itself, in its articles Four, Eleven and Twelve, cites it correctly as 27.742. The discrepancy is in the recitals of the provincial Executive's ratifying decree, not in the text of the law or the agreement.

What would close itNothing that changes the substance: it is recorded as a citation error in the provincial act and the correct number is published where the agreement itself states it. The citation is neither corrected in silence nor is a law that does not exist attributed to the project.
H-14How many people the pipeline's construction employs, and when+

Two figures circulate that do NOT measure the same thing and are quoted together. The 1,900 people belong to Southern Energy's complete FLNG PROJECT —that is what its own website says, opened on 20 Aug 2026— and cover vessels, interconnection, two compressor stations, SESA's onshore pipeline and the logistics base: they are not the Dedicated Pipeline's. The pipeline's 1,500 (broken down by the company into 1,100 for laying plus 400 for the compressor plant) come from the hearing and the press, with no act or corporate document backing them.

What would close itA document from San Matías Pipeline S.A. or one of the monthly reports the environmental management plan requires to be filed with Neuquén's Secretaría de Trabajo. The figure is not filled in with the FLNG's.
H-15Neuquén's Environmental Impact Declaration does not appear published in the provincial Boletín Oficial, and the corporate claim says otherwise+

Sweep of Neuquén's Boletín Oficial: gazettes 4540 to 4604 were read, covering continuously from 30 Jan 2026 to 18 Aug 2026 (the latest published), searching the text for file 00239697 and the names «San Matías Pipeline» and «Tratayén». A SINGLE gazette matches: 4544 of 13 Feb 2026, which is the hearing notice already known. ⇒ The Environmental Impact Declaration is NOT published in the province's Boletín Oficial, and the project is not mentioned there again after the notice. THE METHOD IS CONTROLLED: the same sweep does find all four terms in gazette 4544, so a zero is not a false negative of the search. ⚠️ WHAT THIS ZERO DOES NOT PROVE: (a) that the Declaration does not exist — a resolution can be notified to the applicant without being published; (b) that there are no editions outside the numeric range — the numbering has measured anomalies, gazette 4546 is dated 16 Jun 2026 and sits between two from February; (c) anything about Río Negro, which is another jurisdiction with another procedure. ⚠️ The consequence is that Golar LNG's claim to the market —«Environmental approval obtained from the provinces of Neuquén and Río Negro»— has NO backing in Neuquén's Boletín Oficial. It may be true and unpublished; what cannot be done is cite it as an act of the State. The lead in circulation was also ruled out: Neuquén's Decreto 672/2026 exists but is a hospital security services contract, and the infoleg search engine does not index secretariat resolutions (TipoNorma=4 returns zero rows).

What would close itA request to inspect file EX-2026-00239697 at the records office of Neuquén's Secretaría de Ambiente (Antártida Argentina 1.245, CAM, Module 2, Floor 2), or for the Secretaría itself to publish the resolution on its website. In the meantime the permits block stays «in progress» and is not rounded up to «obtained».
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Frequently asked questions

What is it and what is it for?It is a dedicated pipeline linking the Tratayén Head Site (Predio Cabecera Tratayén, Neuquén) with the San Antonio Oeste Compressor Station, on the San Matías Gulf (Río Negro), intended exclusively to export liquefied natural gas verifverif+

It does not supply the domestic market: its purpose is to carry Vaca Muerta gas to Southern Energy's two floating liquefaction units verif. The pipe is 36 inches, with a maximum operating pressure of 98 kg/cm²g verif. The act adds a new compressor plant of 60,000 HP —that rating is for the new plant alone— plus the upgrade of the existing one at San Antonio Oeste. The new plant is at Allen, with three turbocompressors —two running and one on standby—, and San Antonio Oeste also keeps a fiscal metering station verif. ↗

How long is it and how much gas does it carry?There are three official figures for each, and all three are correct because they come from acts with different purposesverif+

Length: 472.5 km in the Environmental Impact Study (29 in Neuquén plus 443.5 in Río Negro) verif, 444.35 km in the Acta Acuerdo —which measures only the Río Negro stretch, as the environmental fee's tax base— verif and «approximately 480 km» in Resolución 873/2026. Capacity: 28 MMSMCD in the Study verif, 26.5 million m³/d in the Acta verif and 27 million m³/d in the RIGI act. ↗

Watch outBe careful with the figures in circulation: they are neither averaged nor is the largest picked — each answers a use, technical, tax or regime classification.
Is it the same company as Southern Energy?Noverif+

The pipeline's owner is San Matías Pipeline S.A., CUIT 30-71703621-9, and it was not incorporated from scratch: it is Pan American E&P S.A. renamed, with its corporate purpose limited to this project verif. Southern Energy S.A. is another company, the one that liquefies the gas the pipeline delivers to it, and the two signed the Acta Acuerdo with the Province through the same chairman verif. The confusion is common because both have the same five shareholders: Pan American Energy, YPF, Pampa Energía, Harbour Energy and Golar LNG prob. ↗

What does the RIGI require in exchange for the benefits?Evidencing, in the first two years from notification, an investment in computable assets of at least 40% of the minimum investment amount, and completing that minimum before 31 May 2027verif+

Total investment declared in the act is USD 1,300 million. Separately, the company committed to contracting goods and works from local suppliers for at least 20% of the total investment amount, in construction and in operation. ↗

How do you become a supplier?In Río Negro the Compre Rionegrino applies: Ley 5804 on local labor and Ley 5805 on Río Negro suppliers, which reaches projects under the national large-investment regime verifverif+

In Neuquén, the Neuquén supplier certificate of Ley 2683 is processed on the provincial development agency's platform and gives preference in the province's public tenders verif. These are two different doors, one per province; the invoice goes to San Matías Pipeline S.A. or to its main contractors thesis. ↗

How many jobs does it create?In operation, what was stated in the legislative session that ratified the Acta Acuerdo is 40 direct jobs and 100 indirect onesprob+

↗

Watch outBe careful with the figures in circulation: the 1,900 jobs often attributed to this pipeline are the ones Southern Energy, another company, declares for the construction of its complete liquefaction project.
Ignacio Aredez
Analysis and curation: Ignacio Aredez
Head of Despegue
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How to read the seals →
  verif primary source · prob primary source pending · unconf a source said it · estim our own calculation · thesis our reading · the date belongs to the datum, at the precision its source allows
This is not financial advice. The page is built on the act that approved the project and the source of every figure, with the gaps declared. What the company announces is published as an announcement, and what is our own reading is labeled as thesis. ← Back to Río Negro