TGN unveils USD 2.2 billion pipeline: what it means for TGN stock

Published on 10/14/2026 at 04:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The project spans 753 kilometers and targets 13 million cubic meters daily. For TGN stock this means first-half 2026 sales reached ARS 357.0 billion.

Pipeline scale and operating base

Transportadora de Gas del Norte announced a USD 2.2 billion pipeline project on September 23, 2026.
The Manuel Belgrano project targets 13 million cubic meters of daily capacity across 753 kilometers.
TGN reported ARS 357.0 billion in first-half 2026 sales and ARS 206.8 billion in EBITDA.

TGN, ARTGNO010117, Illustration mit AI erstellt.

TGN announced a USD 2.2 billion investment project on September 23, 2026, according to iProfesional. The planned Manuel Belgrano pipeline would connect Tratayen with La Carlota and expand gas transportation from the Vaca Muerta basin.

Pipeline scale in six figures

The project covers 753 kilometers and includes USD 1.5 billion for the main pipeline plus USD 700 million for complementary works, iProfesional reported. The system is designed for initial capacity of 13 million cubic meters per day and would include 147 kilometers of loops and upgrades at five compressor plants.

The scale matters because the project is several times larger than TGN's current annual operating base. In the first half of 2026, sales reached ARS 357.0 billion, EBITDA was ARS 206.8 billion and net income was ARS 108.5 billion, according to Somos Inversores. Sales increased 0.50 percent year over year, while EBITDA rose 2.40 percent in the same period.

What the pipeline means for TGN

The investment could broaden TGN's regulated transportation platform, but its financial effect will depend on contracted capacity, tariffs and the funding structure. Somos Inversores reported that the project does not automatically convert projected system benefits into TGN revenue or EBITDA.

Three dated project milestones

On June 30, 2026, TGN's first-half accounts showed ARS 357.0 billion in sales and ARS 206.8 billion in EBITDA, according to Somos Inversores. On September 18, 2026, the project was described as a USD 2.2 billion, 753-kilometer expansion, while the September 23, 2026 announcement set out the proposed investment and route, according to iProfesional.

Capacity decisions come next

Capacity offers for the pipeline and the wider TGN system are expected to be presented and awarded by the end of November 2026, while operations are projected for April 2029, iProfesional reported. Those milestones make contracting and financing the central measures for assessing the project's eventual contribution.

Project and listing details

Transportadora de Gas del Norte operates regulated gas transportation infrastructure in Argentina. The company is listed on BYMA under ticker TGNO4, and its controlling shareholders include Gasinvest with 56 percent, according to the company's investor-relations information.