The sanction that the West does not dare to apply for fear of running out of gas

Energy Argentina approved the trust to build the Néstor Kirchner gas pipeline

The work will make it possible to substitute imports and save foreign exchange for more than US$ 3,400 million in its first stage.

The public company Energía Argentina approved this Friday the contract that it will sign with the Investment and Foreign Trade Bank (BICE) to create an administration and financial trust for the Argentine Gas Development Fund (Fondesgas) that will build the Néstor Kirchner gas pipeline in Neuquén’s Vaca Muerta formation.

The firm that was previously called Integración Energética Argentina Sociedad Anónima (IEASA) specified that “the trust will be set up to manage the assets that will be used for the construction of the Presidente Néstor Kirchner gas pipeline, as well as the rest of the works of the Gas Pipeline System transport”.

Transport It includes, in addition to the aforementioned Gas Pipeline, other expansion works of the Natural Gas Transportation System of our country and was created by Resolution No. 67/2022 of the Ministry of Energy, it was reported in a statement.

While, the construction of the gas 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 (the Fondesgas) would be constituted to carry out the administration, totally or partially, of the works of the Transport.AR System, appointing Energía Argentina as trustee and BICE as trustee.

In that sense, the trust assets will be “the funds derived from Law 27,605 known as ´Solidarity Contribution´, the income from the trust assets, the gas transportation service, the funds received by Transport.AR, the specific funds of the Energy Secretariat, and any another fund that was designated for this work,” explained Energía Argentina.

The construction of the Nstor Kirchner gas pipeline was announced last month by President Alberto Fernndez
The construction of the Néstor Kirchner gas pipeline was announced last month by President Alberto Fernández.

The construction of the Néstor Kirchner gas pipeline – which will allow increasing the gas transport capacity from the Vaca Muerta formation to different locations in the center of the country- it was announced last month by President Alberto Fernández.

The play will allow in its first stage to increase transport capacity in 24 million cubic meters (m3) of gas per day to replace imported fuels and strengthen the supply of users and electricity generation plants that supply the Buenos Aires Metropolitan Area.

This first stage will extend along 558 kilometers with a investment estimated at US$ 1,500 million, will unite the towns of Treatyén, in Neuquén, with Salliqueló, in the central west of Buenos Aires, and then in a second stage extend to the south of the province of Santa Fe.

About, the Secretary of Energy, Darío Martínezdescribed the initiative some time ago as “the most important project in terms of gas transportation in the last 40 years”, and assured that “It will allow substituting imports and saving foreign currency – at today’s price – for more than $3.4 billion in its first stage and for more than $6 billion when we complete stage 2 in 2024.”

In addition, the official stated that in fiscal material will represent a relief of US$ 3,000 million in the first stage and US$5,000 in the second stage.

For its part, the president of Energia Argentina, Agustín Gerezmaintained that the gas pipeline “will allow Argentines to access energy at competitive prices” and stressed that “the possibility of being able to transport it will also allow subsidy bills to be reduced”, while “it will give competitiveness to the economy, because the industries today are also paying a high price for gas”.



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