The Executive argued that prior state intervention "has been unable to provide an efficient solution and has involved substantial expenditures." However, given the existence of a single import terminal (a natural monopoly), the Decree of Necessity and Urgency (DNU) sets a "maximum price" for the sale of that gas in the domestic market during the winters of 2026 and 2027. This measure, established by Decree of Necessity and Urgency 49/2026, aims to guarantee supply over the next two winters due to insufficient infrastructure to transport gas from Vaca Muerta to consumption centers. As reported by the Argentine News Agency, the decree signed by President Javier Milei and his entire cabinet acknowledges that the gas pipeline expansion works "will only begin operations in the winter period of 2027," forcing the country to continue depending on the import of Liquefied Natural Gas (LNG) to cover residential demand peaks and electricity generation.
Privatization of imports with "maximum prices" The regulation introduces a drastic change in foreign trade operations: the State seeks to withdraw as a direct importer through ENARSA and cede that role to the private sector. The Government instructed the Secretariat of Energy to hold a competitive tender to select a private marketer to be in charge of importing LNG and regasifying it using the terminal in Escobar (the only one currently operational). Buenos Aires, January 27 (NA) - The national government officially extended the National Energy Sector emergency status this Tuesday until December 31, 2027, specifically focusing on the transportation and distribution segments of natural gas. This cap will be calculated based on an international benchmark plus logistics costs, to prevent abuses of a dominant position by the future private operator.
Reasons for the emergency In the grounds of the norm, the Executive detailed the system's fragility:
Bottleneck: there is a lack of transport capacity to carry gas from the Neuquén Basin (Vaca Muerta) to Buenos Aires and the Littoral. LNG dependence: without the import of LNG carriers, "the necessary demand to supply residential users and guarantee the operation of thermal power plants would remain unmet on the coldest days." Plan B: if the tender for a private entity to take over the importation fails, ENARSA must again assume the responsibility of guaranteeing supply.
