Transportadora de Gas del Sur S.A. (NYSE:TGS) Q3 2023 Results Conference Call November 8, 2023 8:00 AM ET
Company Participants
Carlos Almagro - Head of IR
Alejandro Basso - CFO & VP, Administration, Finance & Services
Carlos Almagro
Good morning, everyone. I'm Carlos, Head of Investor Relations. I would like to welcome everyone to tgs Third Quarter 2023 Results video conference. tgs issued its earnings report yesterday. We would like to inform you that this event is being recorded. [Operator Instructions]
Before we begin the call today, I would like to remind you that forward-looking statements made during today's video conference do not account for future economic circumstances, industry conditions, and company performance and financial results. These statements are subject to a number of risks and uncertainties. All figures included herein were prepared in accordance with International Financial Reporting Standard, IFRS, and are stated in constant Argentine pesos, as of September 30, 2023 unless otherwise noted.
Joining us today from tgs, in Buenos Aires, is Alejandro Basso, Chief Financial Officer. And now I will turn video conference over to Mr. Basso Alejandro. Please begin.
Alejandro Basso
Thank you, Carlos. Good morning, everyone, and thank you for joining us today to discuss the 2023 third quarter earnings and highlights for tgs. To begin the call today, I would like to share with you recent news about the company. In terms of our midstream business in Vaca Muerta, last July, we commissioned the 32-kilometer extension of the North Tranche pipeline with a CapEx of $49 million. With this extension, our 60 million cubic meters per day capacity gathering pipeline in Vaca Muerta reached a length of 182 kilometers. This allow us to currently provide out of specification natural gas, transportation and conditioning services in our recently expansion 15 million cubic meters per day plant to several natural gas producers.
Furthermore, we continue working on additional two conditioning capacity expansions, which will increase the total capacity to 28 million of cubic meters per day by, 2024, with a CapEx of approximately $300 million. It is worth mentioning that these expansions will consist on the installation of two new models, which can be converted to extract LPG. This is in line with our intention to start providing processing services for the gas producers in Tratayen.
The Argentine government through ENARSA is currently revising the offers for the reversal of the Techint North pipeline, which consists of the construction of 122 kilometers pipeline to connect the two main Techint pipelines, 2 loops of 32 kilometers in the Techint North pipeline and the reversal of the natural gas flow of four compressor plants. The Argentine government expects to commission this work before next winter given that Golia [ph] will stop playing for natural gas volumes starting August 2024.