The norm, in detail
The State reorders the trunk gas pipelines and forces firm transportation contracts to be redrawn
Res. SE 66/2026 (Official Gazette, Mar 13, 2026) + Res. ENARGAS 409/2026
in executionNATIONAL
Energy and natural resources
What changed and who it applies to
What changed
Res. SE 66/2026 establishes the 'Reconfiguration of the Natural Gas Transportation System' under the Energy Emergency extended by Decree 49/2026 (art. 1), to adapt the grid to the productive matrix's shift toward the Neuquén basin:(1) it approves Annex I with three sub-annexes — A) reassignment of transportation capacity, B) transportation routes by licensee, C) guidelines for allocating available capacity through open tenders with non-discriminatory access (art. 2);(2) it terminates the Transport.Ar program (Res. SE 67/2022) (art. 3);(3) it instructs ENARSA and CAMMESA to rescind within 10 days the Firm Transportation Contract for the Perito Moreno pipeline (former GNK) and ENARSA-TGS the one for the Ordoqui/Neuba II loop (art. 4);(4) it orders the repeal of Decree 689/2002 to be pursued and the remuneration guidelines of Decree 1060/2024 adjusted (art. 5);(5) it delegates implementation to ENARGAS. Res. ENARGAS 409/2026 (Official Gazette, Apr 14, 2026), following the public consultation under Res. 346/2026, requires new firm transportation contracts to be executed or existing ones adjusted from May 1, 2026 with a minimum term through Apr 30, 2028, recognizes firmness for certain Exchange and Displacement services, sets new gas-retention percentages by route, modifies load factors for NATURGY NOA and CAMUZZI GAS DEL SUR, and revokes Res. 705/2024. verif · Mar 13, 2026 ↗
In force
2026-03-13 (new firm contracts from May 1, 2026) verif · Mar 13, 2026 ↗
Who it affects
Vaca Muerta producers (gas evacuation), licensed transporters (TGN, TGS), distributors, ENARSA and CAMMESA (rescinded contracts), large users and power generators. Indirectly, the satellite ecosystem of midstream and evacuation infrastructure. verif · Mar 13, 2026 ↗
The norm
Resolución 66/2026 of the Secretaría de Energía (signed Mar 12, 2026, BO Mar 13, 2026, No. 35870) + ENARGAS Resoluciones 346/2026 (public consultation) and 409/2026 (BO Apr 14, 2026). Framework: the energy emergency of Decreto 55/2023, extended by Decreto 49/2026 to Dec 31, 2027. verif · Mar 13, 2026 ↗
Our reading
The State unwinds the legacy contracts and frees up firm capacity so that whoever uses it contracts it: less of a bottleneck to evacuate Vaca Muerta, open access and enforceable contracts with a firm horizon to 2028. Market rules on the critical path of Argentine gas (R2/R3). thesis
Where it lands, province by province2
Neuquén This is THE evacuation rule for Neuquén's gas: the reassignment of Perito Moreno pipeline capacity and the open tenders define how much additional Vaca Muerta gas reaches demand — an enabling condition for the entire incremental production plan of the basin's operators. favorable stability → long-term investment thesis
Río Negro The GPM and the Neuba system loops cross Río Negro: more firm-transported gas = more compression, work camps and pipeline maintenance on Río Negro territory, and it strengthens the case for the Golfo San Matías LNG/petrochemical corridor, which depends on guaranteed evacuation. favorable stability → long-term investment thesis
The other rules on this subject28
Hydrocarbons: the prior domestic-offer step for exports is goneSE Res. 166/2026 (Official Gazette, Jul 22, 2026)in force
The Comahue returns to private hands: 4 dams awarded in concessionRes. 2124/2025, Ministry of Economy (Official Gazette Dec 30, 2025)in force
End of segmentation: energy subsidies are targeted at those who need themDecree 943/2025 (Official Gazette, Jan 2, 2026)in force
Ignacio Aredez· Chief analyst
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