TGS - Natural gas liquids (NGL) project, Tratayén - Bahía Blanca

The project does not come on stream until 2029 or 2030, but the rich gas that will feed it is already being produced: today the chain exports as gas a value that is worth far more downstream. That time gap is the opening, and it is identified in our own midstream analysis: fractionation, propane and butane storage and LPG logistics in the interim window. Whoever builds capacity now uses it during the years when the fractionation plant does not yet exist, and afterwards is positioned as back-up capacity when it starts up.

Fractionating 2.7 million tonnes of liquids a year requires pressurised and cryogenic tankage: spheres, tanks and pressure vessels with a fabrication code, qualified welding and certified non-destructive testing. It is the highest rung of metalworking and it is exactly where local supply falls short: the province measures that only 27% of contracting goes to certified Neuquén firms against the 60% the rule requires, and pressure vessels are among the first items to be imported. The window is the project's procurement decision, not its operation.

The pipeline taking the liquids to Bahía Blanca crosses hundreds of kilometres and more than one jurisdiction, and each stretch is a separate agreement: right of way, crossings of roads, railways and watercourses, permits province by province and compensation to the surface owner. It is pure management work, prior to the first weld, that conditions the entire schedule and that nobody quantifies on the niche map. The window opens with the final investment decision and closes before construction.