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Argentina Approves $1.3 Billion San Matías Pipeline Under RIGI

Approval brings fiscal, customs and currency incentives to a pipeline designed to feed SESA's planned GNL exports.

Overview

  • The Ministry of Economy formally admitted the Gasoducto San Matías into the Régimen de Incentivo para Grandes Inversiones by Resolución 873/2026, a decision published on Friday that triggers RIGI benefits.
  • San Matías Pipeline S.A. will build a roughly 480-kilometre, 36-inch pipeline to carry up to 27 million m³ of gas per day and will add a new 60,000 HP compressor while repowering the San Antonio Oeste facility.
  • The company set a construction start date of June 30, 2026, must meet RIGI minimum-investment requirements by May 31, 2027, and expects operations to begin on May 1, 2028.
  • RIGI instructions order AFIP and the Central Bank to apply tax, customs and foreign-exchange benefits, the Central Bank reviewed early FX flows and flagged no threat to reserves, and the firm declined the RIGI option to freely dispose of export dollars.
  • The project commits at least 20% local supplier content, will be financed at the company's risk, will be overseen by the Secretaría de Energía, and is intended to feed SESA's liquefaction vessels that could enable about $2.5 billion a year in exports.