Transportadora de Gas del Sur reports first‑quarter 2026 results in a high‑inflation environment, with financial statements restated under IAS 29. Total revenues rose by Ps. 56,637 million versus 3M2025, driven mainly by Liquids Production and Commercialization and Midstream, while Natural Gas Transportation revenue declined.
Liquids revenue reached Ps. 193,345 million, up Ps. 46,059 million on higher volumes after last year’s climate‑related outage, and Midstream revenue increased by Ps. 17,679 million. Natural Gas Transportation revenue fell to Ps. 194,508 million, down Ps. 7,101 million as inflation outpaced tariff adjustments.
Costs and expenses increased by Ps. 21,595 million, but other operating results swung to a Ps. 9,149 million profit from a Ps. 18,054 million loss, helped by lower repair costs and Ps. 11,864,563 in insurance advances from the 2025 Cerri Complex climate event. Net financial results were Ps. 12,555 million, below Ps. 21,782 million in 3M2025 due to weaker investment returns and a higher loss on net monetary position.
Operating cash flow was Ps. 195,773 million, slightly below 3M2025, while strong investing outflows of Ps. 605,616 million and higher debt repayment led to a net cash decrease of Ps. 424,923 million. The company continues major expansion on the Perito Moreno Gas Pipeline through Dedicated Branch 1, with 5.4 MMm³/d of incremental capacity awarded and further capacity to be placed. Regulatory resolutions in early 2026 reconfigured the transportation system and tariff structure without materially changing TGS’s required revenue.
Transportadora de Gas del Sur S.A. (tgs) reports that Argentina’s Ministry of Economy has approved its participation in the Incentive Regime for Large Investments (RIGI) for a major gas infrastructure project. The approved Single Project, called “Expansion of Section I of the Perito Francisco Pascasio Moreno Gas Pipeline,” will add incremental capacity of fourteen million cubic meters per day to this pipeline. The project covers construction, financing, operation and maintenance of the required infrastructure and involves a total planned investment of USD 550,000,000.
Transportadora de Gas del Sur S.A. (tgs) delivered higher results in 1Q2026, with revenues of Ps. 484,201 million versus Ps. 427,564 million in 1Q2025 and operating profit rising to Ps. 249,340 million from Ps. 187,094 million.
Total comprehensive income increased to Ps. 159,981 million (Ps. 212.53 per share, Ps. 1,062.63 per ADS) from Ps. 142,355 million (Ps. 189.11 per share, Ps. 945.55 per ADS). Liquids Production and Commercialization and Midstream and Telecommunications drove growth, with segment operating profits up 55% and 57%, while Natural Gas Transportation also improved. The company ended March 31, 2026 with a negative net financial debt position of Ps. 234,762 million, reflecting a substantial net cash surplus, and generated free cash flow of Ps. 52,384 million after significant PPE investments.
Gas Transporter of the South Inc. filed an initial Form 3 reporting the insider status of Diego Agustin Chighizola, identified as an alternate director. The filing shows no reportable transactions in the company’s securities and no listed derivative positions, serving as a baseline record of his insider status.
GAS TRANSPORTER OF THE SOUTH INC reported that Flavia Vanesa Bevilacqua filed an initial statement of beneficial ownership on Form 3. She is identified as an independent alternate director. The filing lists no stock transactions or holdings and shows no share purchases, sales, or derivative positions.
Transportadora de Gas del Sur S.A. reports that its Board of Directors approved gas reference prices for Spot purchases for Plant Thermal Reduction with related parties for the 2026 winter period.
The Audit Committee reviewed these related-party transactions under section 72 of Capital Markets Act no. 26,831 and informed the Board that transactions carried out under these reference prices can be deemed reasonably entered into on an arm’s length basis. Accredited shareholders may request copies of the Audit Committee’s reports via the Company’s legal affairs email.
Transportadora de Gas del Sur S.A. (tgs) filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission. The report is available on the company’s website and on the SEC’s website, and shareholders can request free hard copies from the Investor Relations office.
The company describes itself as Argentina’s leading natural gas transporter, moving approximately 60% of the gas consumed in the country through more than 5,700 miles of pipelines, with firm contracted capacity of 89.4 MMn3/d. It is also a major natural gas processor and is investing in infrastructure in the Vaca Muerta basin to expand midstream services. The controlling shareholder, Compañía de Inversiones de Energía S.A., holds 53.83% of tgs’s total share capital.
Transportadora de Gas del Sur S.A. (TGS) files its annual Form 20‑F, explaining that its financial statements are prepared in Argentine pesos under IFRS and restated for hyperinflation in accordance with IAS 29. Argentina is treated as a hyperinflationary economy, with three‑year cumulative inflation above 100% and annual inflation of 31.5%, 117.8% and 211.4% in 2025, 2024 and 2023 respectively.
The company highlights strong exposure to the peso/U.S. dollar exchange rate: 48% of 2025 consolidated sales, most capital expenditures, almost all debt and input gas for its Liquids business are denominated in dollars, while nearly all assets and its functional currency are in pesos. Natural gas transportation, a regulated business representing 41% of 2025 revenues, depends on tariff approvals and a five‑year tariff review, and long‑term contracts (74.2% of 2025 average daily deliveries) with an average remaining life of about 11 years.
TGS notes extensive regulatory and political risk in Argentina, including tariff freezes, emergency energy laws, exchange controls and changing government intervention in the oil and gas sector. It reports a 20‑year extension of its transportation License from December 28, 2027, but warns that non‑compliance could still trigger sanctions or revocation. Additional risks include labor disputes, environmental and climate regulation, competition in midstream and liquids, cyberattacks, significant flood damage at the Cerri Complex in March 2025, dependence on a single ethane buyer, Plan Gas.Ar and transport infrastructure outcomes, and Argentina’s macroeconomic, fiscal and sovereign financing vulnerabilities.
Gas Transporter of the South Inc. filed an initial insider ownership report for Jorge Pablo Vugdelija, who serves as Strategic Projects Director. This Form 3 filing establishes his status as a reporting officer but does not list any transactions or specific share holdings.
GAS TRANSPORTER OF THE SOUTH INC director Horacio Turri reported his existing ownership stake in the company. The filing shows direct holdings of 6,000 American Depositary Shares and 58,755 shares of common stock. This is an initial Form 3 disclosure of positions, not a new purchase or sale.