The norm, in detail
San Matias Gulf: the law that opened the coast to the export corridor
Ley 5594 (2022)
in forcePROVINCIAL
Energy and natural resources
Ley 5594 keeps exploration and production banned in Golfo San Matías, but allows pipelines, storage and loading terminals.
What changed and who it applies to
What changed
It authorized what Ley M 3308 (1999) prohibited: art. 15 rewrites art. 1 of Ley 3308 leaving only oil and gas 'prospecting, exploration and exploitation' prohibited in the San Matias Gulf and Rio Negro's territorial sea - pipeline transport, storage and loading/unloading terminals become permitted and regulated by the law itself (prior approval, provincial control via the Hydrocarbons Secretariat, local-content objectives). Without this law there is no VMOS terminal at Punta Colorada, no LNG FLNGs, and no San Matias Pipeline. verif Sep 9, 2022 ↗
In force
In force since October 2022. Challenged in court without success so far: the provincial Superior Court rejected the unconstitutionality action on 05-10-2023 for lack of standing, without ruling on the merits. prob May 10, 2023 ↗
Are you in or out?
The entire export corridor: VMOS (terminal and single-point moorings), Southern Energy (FLNGs and dedicated pipeline), Argentina LNG (Eni-YPF-XRG phase) and the San Antonio port logistics chain. It also imposes prior provincial approval and concurrent oversight on the covered parties. verif 2022-2026 ↗
The norm
Ley 5594, passed on Sep 9, 2022, enacted on Sep 21, 2022 (Decreto 1130/2022), Boletín Oficial 6122 of Sep 29, 2022. Implemented by Decreto 563/2025 (Jul 7, 2025). verif Sep 29, 2022 ↗
Our reading
This is the regulatory key to the entire Rio Negro thesis: a 2022 provincial law - predating RIGI - that turned a closed coast into Vaca Muerta's only Atlantic outlet. The residual risk is judicial and environmental: the Superior Court rejected on form (not on the merits), and a reversal in a future instance would touch the whole corridor. It is THE provincial watchlist item. thesis
Where it lands, province by province1
The other rules on this subject38
The State reorders the trunk gas pipelines and forces firm transportation contracts to be redrawnRes. SE 66/2026 (Official Gazette, Mar 13, 2026) + Res. ENARGAS 409/2026in execution
Hydrocarbons: the pre-export local offer fallsSE Res. 166/2026 (Official Gazette, Jul 22, 2026)in force
The State puts 16 high-voltage works out to tender, and six of them run through four of the five provincesRes. SE 202/2026 (Official Gazette, Aug 12, 2026), the Plan's first workin execution
The Comahue returns to private hands: 4 dams awardedRes. 2124/2025, Ministry of Economy (Official Gazette Dec 30, 2025)in force
End of segmentation: energy subsidies are targeted at those who need themDecreto 943/2025 (Official Gazette, Jan 2, 2026)in force
Ignacio Aredez· Chief analyst
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