public company Energía Argentina and the Investment and Foreign Trade Bankr (BICE) signed on Friday the contract for the creation of the administration and financial trust of the Argentine Gas Development Fund (Fondesgas), which will manage the assets that will be used for the construction of the Néstor Kirchner gas pipeline in Vaca Muerta.
The signing of the document was headed by the general manager of Energía Argentina, Agustín Gerez, and the vice president of BICE, Raquel Kismer, the company said in a statement.
In this regard, Gérez stressed that they continue “working to build the work of greatest historical significance for the countrythus contributing to the residential, commercial and industrial sectors of Argentina being able to access competitive energy prices to achieve full employment and production”.
Meanwhile, the president of BICE, José de Mendiguren, stressed that “in the face of the global energy crisis, there is no project more strategic than this for the country today.”
“All over the world, development banks play a key role in making these investments, and at BICE we are making everything within our reach to help ensure that the Néstor Kirchner Gas Pipeline become a reality as soon as possible,” added the leader.
The construction of the pipeline was entrusted to Energía Argentina (Ieasa at the time) through Decree 76/2022, which also granted the transportation concession.
In addition, that decree determined that an administrative and financial trust would be constituted (the fondesgas) to carry out the administration, total or partial, of the works of the Transport.AR Systemdesignating Argentine Energy as the trustor and BICE as fiduciary.
“The Presidente Néstor Kirchner Gas Pipeline is a transcendental infrastructure project for our country, which will allow a 25% increase in the capacity of the natural gas transportation system and will help develop the growing production in Vaca Muerta,” concluded Energía Argentina.
The construction of the Néstor Kirchner gas pipeline – which will increase the gas transport capacity from the formation of Dead Cow hto different locations in the center of the country – was announced last month by President Alberto Fernández.
The work will allow in its first stage to increase the transport capacity by 24 million cubic meters (m3) of gas per day for replace fuel imports and strengthen the supply of users and power plants of electricity generation that supply the Metropolitan Area of Buenos Aires.
Today we sign with him @bice_arg the contract for the formation of the administration and financial trust, which will manage the assets used for the construction of the President Néstor Kirchner Gas Pipeline. 🇦🇷👇 #EnergyArgentinahttps://t.co/HrhTknA6rR pic.twitter.com/2Sfjl2c3RT
– Argentine Energy (@Energia_ArgOk) May 27, 2022