Argentina Gas Pipeline Profit Falls 26%
TGS, the NYSE-listed Argentine gas pipeline operator, reported third-quarter net income down 26% to about US$73 million, with a net cash position intact. The post Argentina Gas Pipeline Profit Falls 26% appeared first on The Rio Times .
Argentina's leading gas pipeline company, Transportadora de Gas del Sur (TGS), reported a 26% drop in net income for the third quarter of 2026. The company, listed on the New York Stock Exchange as TGS, moved about 60% of the gas used by Argentines through its 5,700-mile pipeline network. However, revenue fell 6% year-over-year due to inflation adjustments in Argentine accounting rules.
Despite this, TGS's pipeline system reconfiguration and a potential approval for its liquids export project boosted operating profit. TGS also secured new contracts with Pampa Energía for 8 million cubic meters of gas per day from two gas fields. The company's strong balance sheet, with Ps. 310,054 million in cash, helped offset the decline in net income.
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