Bruchou represents YPF on TGS’s NGL project
Three Argentine law firms have advised the parties involved in the negotiation and execution of commercial agreements for Transportadora de Gas del Sur’s integrated natural gas liquids project (the “NGL Project”), one of the most significant midstream infrastructure initiatives currently under development in Argentina, targeting the export of natural gas liquids derived from Vaca Muerta with an estimated investment of approximately USD 3 billion.
Bruchou & Funes de Rioja acted for YPF and Pluspetrol; Martínez de Hoz & Rueda advised Chevron; and Salaverri, Burgio & Wetzler Malbrán represented TGS.
The NGL Project involves the construction, development, ,,and operation of infrastructure required to capture, process, transport and export liquids associated with natural gas from Vaca Muerta, including propane, butane and natural gasoline. Key components include a gas stream segregation pipeline of approximately 100 km, new gas processing facilities at the Tratayén Plant in Neuquén Province, a multi-product pipeline of approximately 577 km between Tratayén and Bahía Blanca in Buenos Aires Province, as well as a fractionation plant, storage facilities and a marine terminal at Puerto Galván.
YPF and Pluspetrol committed gas volumes that, together with Chevron — whose participation remains subject to internal corporate approvals — will cover more than 80% of the project’s anticipated processing capacity, positioning them as key producers for the viability of this initiative.
The NGL Project will be developed under Argentina’s Incentive Regime for Large Investments (RIGI) and is expected to commence operations by 2030. Once operational, it is estimated to generate exports of approximately USD 1.2 billion per year, contributing to the strengthening of Argentina’s energy infrastructure and the expansion of the country’s export capacity.
Bruchou & Funes de Rioja’s team advising YPF and Pluspetrol was led by partners Nicolás Dulce (O&G – M&A) (pictured), Pablo Muir (Tax) and José Bazán (Financing), supported by associates María Gulias, Giuliana Busico Guaspari and Francisco Gomez Leiva. YPF’s in-house counsel comprised Carlos Alberto San Juan and Bárbara Vons, while Pluspetrol’s in-house team included Diego Patricio Roizen, María Carolina Crespo, Sofía Moyano and Nicolás Abregú Mirra.
Martínez de Hoz & Rueda advised Chevron through partners José Martínez de Hoz and Marcos Blanco, with in-house support from Liat Avivi and Guillermo Cornejo Bosch.
Salaverri, Burgio & Wetzler Malbrán represented TGS with partners Martín Fernández Dussaut and Santiago J. García Mira. TGS’s in-house counsel included Hernán Diego Flores Gómez, María Eugenia Pardo and Paula Tourn.
