Transportadora De Gas Sa Ord B (TGS) has released an update.
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Transportadora de Gas del Sur S.A. reported a substantial increase of 66,312 million pesos in revenue for the first half of 2024 compared to the same period in 2023, primarily driven by gains in the Natural Gas Transportation and Midstream segments. The revenue rise in the Natural Gas Transportation sector, which makes up 29% of total revenues, was significantly influenced by a temporary tariff hike of 675% implemented in April 2024. However, the company’s financial performance was also affected by inflationary pressures, which led to adjustments in tariffs based on a combination of wage, wholesale price, and construction cost indices.
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