# GAS TRANSPORTER OF THE SOUTH INC

Summary updated: 2026-10-04T09:43:04.476759Z
Canonical: https://finbar.com/research/companies/gas-transporter-of-the-south-inc

## Overview

Gas Transporter of the South Inc. (TGS), known in Argentina as Transportadora de Gas del Sur S.A., is an integrated energy company focused on natural-gas transportation and the production and commercialization of natural-gas liquids. Its businesses also include midstream services such as gas gathering, treatment and compression, and telecommunications services through subsidiary Telcosur. TGS began operations on December 28, 1992, following the privatization of Argentina’s Gas del Estado. [1](https://app.finbar.com/go?id=P151827374)

TGS’s operations are concentrated in Argentina. Its pipeline network links southern and western gas-producing basins with Buenos Aires and other consumption centers; at the end of 2025, the company reported 5,746 miles of pipeline and transportation of more than 60% of Argentina’s natural gas. [2](https://app.finbar.com/go?id=P151825450) TGS describes its mission as profitably integrating natural-gas production and consumption while contributing to sustainable development through services and solutions for the energy industry. [3](https://www.tgs.com.ar/en/about-us/)

For 2025, TGS reported consolidated revenue of approximately ARS 1.72 trillion. [4](https://app.finbar.com/go?id=P151827349) The company website describes a team of about 1,100 people working across seven Argentine provinces. [5](https://www.tgs.com.ar/en/being-part-of-tgs/)
[1](https://app.finbar.com/go?id=P151827374)[2](https://app.finbar.com/go?id=P151825450)[4](https://app.finbar.com/go?id=P151827349)[3](https://www.tgs.com.ar/en/about-us/)[5](https://www.tgs.com.ar/en/being-part-of-tgs/)

## Products & services

GAS TRANSPORTER OF THE SOUTH INC offers natural-gas transportation through a 5,746-mile pipeline system connecting producing basins and fields with Buenos Aires and other consumption centers. Services include long-term firm capacity, reserved and paid for regardless of use, and interruptible transportation subject to available capacity; the company also lists exchange and displacement services. Transportation represented 41% of total revenue in 2025, compared with 36% in 2024 and 22% in 2023. [6](https://app.finbar.com/go?id=P151825484)[7](https://www.tgs.com.ar/transporte/)

Its pipeline network includes large-diameter, high-pressure lines operating at approximately 853–996 psi, with compressor stations, flow regulation and measurement, valves and cathodic protection. The 2025 pipeline-characteristics table reports 32 compressor plants, 100 compressor units and 772,100 HP of total output. [8](https://app.finbar.com/go?id=P151825909)[9](https://app.finbar.com/go?id=T17456360)

Midstream services include gathering, compression and treatment of natural gas from the wellhead, as well as construction, operation and maintenance of plants and pipelines. Gas treatment can remove water, carbon dioxide and sulfur; the company also provides steam generation for electricity production. At the Cerri Complex, TGS produces natural gas liquids (NGLs): ethane, LPG (propane and butane) and natural gasoline. Its cryogenic and lean-oil absorption plants have processing capacity of approximately 47 million cubic metres per day; storage and loading facilities serve the products, with ethane delivered by pipeline to its sole outlet. [10](https://app.finbar.com/go?id=P151825938)[11](https://app.finbar.com/go?id=P151825939)[12](https://www.tgs.com.ar/midstream/)[13](https://app.finbar.com/go?id=P151825869)[14](https://app.finbar.com/go?id=P151825824)[15](https://www.tgs.com.ar/liquidos/)
[6](https://app.finbar.com/go?id=P151825484)[8](https://app.finbar.com/go?id=P151825909)[9](https://app.finbar.com/go?id=T17456360)[10](https://app.finbar.com/go?id=P151825938)[11](https://app.finbar.com/go?id=P151825939)[13](https://app.finbar.com/go?id=P151825869)[14](https://app.finbar.com/go?id=P151825824)[7](https://www.tgs.com.ar/transporte/)[12](https://www.tgs.com.ar/midstream/)[15](https://www.tgs.com.ar/liquidos/)

## Geographic presence

GAS TRANSPORTER OF THE SOUTH INC’s operations are concentrated in Argentina. Its transportation network spans seven provinces—Buenos Aires, Chubut, La Pampa, Neuquén, Río Negro, Santa Cruz and Tierra del Fuego—and connects the Neuquén, San Jorge and Austral gas basins with Greater Buenos Aires and southern Argentina. The network includes the General San Martín, Neuba I and Neuba II pipelines; the company reports that its system transported more than 60% of Argentina’s natural gas. [2](https://app.finbar.com/go?id=P151825450)[16](https://app.finbar.com/go?id=P151825915)[17](https://app.finbar.com/go?id=P151825916)[18](https://app.finbar.com/go?id=P151825920)

Greater Buenos Aires is its principal service area. At year-end 2025, TGS served 5.8 million end users, including 4.1 million in Greater Buenos Aires. Its 2025 revenue disclosures distinguish “Local” and “External” markets, but do not identify external countries; natural gas transportation revenue is reported as local, while external revenue is reported in liquids production and commercialization. [19](https://app.finbar.com/go?id=P151825509)[20](https://app.finbar.com/go?id=T17456786) The company’s registered office is in Buenos Aires, Argentina. Its 2025 filing reported 1,187 employees but did not provide geographic workforce distribution. [21](https://app.finbar.com/go?id=P151825449)[22](https://app.finbar.com/go?id=T17456495)
[2](https://app.finbar.com/go?id=P151825450)[16](https://app.finbar.com/go?id=P151825915)[17](https://app.finbar.com/go?id=P151825916)[18](https://app.finbar.com/go?id=P151825920)[19](https://app.finbar.com/go?id=P151825509)[20](https://app.finbar.com/go?id=T17456786)[21](https://app.finbar.com/go?id=P151825449)[22](https://app.finbar.com/go?id=T17456495)

## Business segments

In its 2025 reporting, GAS TRANSPORTER OF THE SOUTH INC reported four business segments: Natural Gas Transportation, Liquids Production and Commercialization, Midstream, and Telecommunications. Natural Gas Transportation provides pipeline transport, while Liquids Production and Commercialization processes gas at the Cerri Complex to separate and market natural-gas liquids. Midstream covers gas gathering, compression and treatment, as well as related construction, operation, maintenance and services. Telecommunications provides digital microwave and fiber-optic network services. [23](https://app.finbar.com/go?id=T17456755)[6](https://app.finbar.com/go?id=P151825484)[24](https://app.finbar.com/go?id=P151825459)[13](https://app.finbar.com/go?id=P151825869)[25](https://app.finbar.com/go?id=P151825948)[2](https://app.finbar.com/go?id=P151825450)

For 2025, segment revenue represented approximately 41% of total revenue for Natural Gas Transportation and 38% for Liquids Production and Commercialization, as reported by the company. Based on reported segment revenues divided by total revenue, Midstream contributed approximately 20% and Telecommunications approximately 0.4%. [23](https://app.finbar.com/go?id=T17456755)[26](https://www.tgs.com.ar/wp-content/uploads/2026/04/AS-FILED-GAS-TRANSPORTER-OF-THE-SOUTH-INC-20F-2025.pdf)
[23](https://app.finbar.com/go?id=T17456755)[6](https://app.finbar.com/go?id=P151825484)[24](https://app.finbar.com/go?id=P151825459)[13](https://app.finbar.com/go?id=P151825869)[25](https://app.finbar.com/go?id=P151825948)[2](https://app.finbar.com/go?id=P151825450)[26](https://www.tgs.com.ar/wp-content/uploads/2026/04/AS-FILED-GAS-TRANSPORTER-OF-THE-SOUTH-INC-20F-2025.pdf)

## Company history

Gas Transporter of the South Inc. (Transportadora de Gas del Sur S.A., or TGS) was formed as part of Argentina’s privatization of state-owned Gas del Estado. It began operating the southern gas transportation system on December 28, 1992; the privatization decree established the framework for transferring Gas del Estado’s assets and licenses to private operators. [1](https://app.finbar.com/go?id=P151827374)[27](https://mepriv.mecon.gob.ar/Normas/1189-92.htm) TGS entered the market in November 1994. [28](https://app.finbar.com/go?id=P151825566)[29](https://www.tgs.com.ar/en/tgs-private-initiative-valued-at-over-700-million-dollars/)

During the 1990s, TGS expanded capacity on the Neuba I and Neuba II pipelines, with further Neuba II expansion completed in 2008. [17](https://app.finbar.com/go?id=P151825916) In 2019, it completed key connections for a gathering-pipeline and gas-conditioning project in the Vaca Muerta region, which began generating revenue that year. [18](https://app.finbar.com/go?id=P151825920) On July 24, 2025, TGS received a 20-year extension of its transportation license, through December 28, 2047. [30](https://app.finbar.com/go?id=P151825464)[31](https://app.finbar.com/go?id=P151827300)
[1](https://app.finbar.com/go?id=P151827374)[28](https://app.finbar.com/go?id=P151825566)[17](https://app.finbar.com/go?id=P151825916)[18](https://app.finbar.com/go?id=P151825920)[30](https://app.finbar.com/go?id=P151825464)[31](https://app.finbar.com/go?id=P151827300)[27](https://mepriv.mecon.gob.ar/Normas/1189-92.htm)[29](https://www.tgs.com.ar/en/tgs-private-initiative-valued-at-over-700-million-dollars/)

## Sources

1. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151827374)
2. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825450)
3. [www.tgs.com.ar](https://www.tgs.com.ar/en/about-us/)
4. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151827349)
5. [www.tgs.com.ar](https://www.tgs.com.ar/en/being-part-of-tgs/)
6. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825484)
7. [www.tgs.com.ar](https://www.tgs.com.ar/transporte/)
8. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825909)
9. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17456360)
10. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825938)
11. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825939)
12. [www.tgs.com.ar](https://www.tgs.com.ar/midstream/)
13. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825869)
14. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825824)
15. [www.tgs.com.ar](https://www.tgs.com.ar/liquidos/)
16. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825915)
17. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825916)
18. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825920)
19. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825509)
20. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17456786)
21. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825449)
22. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17456495)
23. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17456755)
24. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825459)
25. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825948)
26. [www.tgs.com.ar](https://www.tgs.com.ar/wp-content/uploads/2026/04/AS-FILED-GAS-TRANSPORTER-OF-THE-SOUTH-INC-20F-2025.pdf)
27. [mepriv.mecon.gob.ar](https://mepriv.mecon.gob.ar/Normas/1189-92.htm)
28. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825566)
29. [www.tgs.com.ar](https://www.tgs.com.ar/en/tgs-private-initiative-valued-at-over-700-million-dollars/)
30. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151825464)
31. [GAS TRANSPORTER OF THE SOUTH INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P151827300)

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