TGS Takes FID on NGL Project With 90% of Capacity Contracted

Transportadora de Gas del Sur has taken a final investment decision on its natural gas liquids project, with key commercial agreements already covering most of the planned capacity, CFO Alejandro Basso said on the company's second-quarter earnings call.

Basso opened the Aug. 4 call by calling the FID "the most relevant news" among recent corporate developments. He said commercial agreements representing more than 90% of the project's total capacity were already executed. The decision was announced a few weeks ago, he said.

Natural gas liquids are the heavier hydrocarbons, mostly ethane and propane, that come out of natural gas streams. TGS is an Argentine natural gas transporter. AlphaScala has no Alpha Score for TGS; the stock is marked unscored in the Energy sector.

TGS issued the Q2 release Aug. 3 and hosted the call the next morning. A Q&A session followed the prepared remarks.