Argentina’s RIGI approves $3.06 billion in fertilizer and gas projects, pushing total commitments near $50 billion

Economy Minister Luis Caputo announced the approvals on social media, with President Javier Milei hosting Pampa Energía owner Marcelo Mindlin at Casa Rosada the same afternoon. The meeting included Chief of Staff Diego Santilli, Presidential Secretary Karina Milei, and senior energy officials alongside Pampa executives Gustavo Mariani and Nicolás Mindlin. Mindlin stated that RIGI’s legal and tax stability enables access to external financing necessary for record-level investments, noting that Pampa and TGS’s four main projects total nearly $11 billion in committed capital to convert Vaca Muerta gas potential into employment and foreign currency.

The Pampa Energía fertilizer facility, developed through wholly-owned subsidiary Fértil Pampa, will produce 2.1 million annual tons of granulated urea by late 2029 at a Bahía Blanca location. Construction will generate over 3,500 jobs, with the government projecting annual positive foreign exchange impact exceeding $800 million. The plant targets Brazil’s agricultural market, which currently imports seven to eight million tons of urea annually. The company estimates total project impact at $1 billion yearly through import substitution and new export revenue.

Compañía MEGA’s approval covers expansion adding 1,500 daily tons of natural gas liquids processing capacity, representing a 27 percent increase over current production levels. The investment forms part of MEGA’s 2023-2028 expansion plan totaling $650 million in estimated outlays. CEO Tomás Córdoba characterized the approval as strategic for developing infrastructure critical to Argentina’s energy growth and Vaca Muerta expansion. The project will generate 800 jobs and produce $190 million in annual exports.

Construction extends through late 2028 across facilities in Neuquén, Río Negro, La Pampa, and Buenos Aires provinces. Work at Loma La Lata in Neuquén includes slug catcher expansions, debottlenecking processes, new turbocompressor installation, and additional natural gas liquids vessels. The polyduct will receive two new pumping stations at General Roca and La Adela, while the Bahía Blanca fractionation plant gains storage capacity and electrical system improvements. The expansion will add over 500,000 tons of incremental annual natural gas liquids production.

RIGI targets projects exceeding $200 million with tax, customs, and foreign exchange benefits. Approved investments concentrate in lithium mining, energy, gas, and infrastructure sectors, with Vaca Muerta and northern Andean regions receiving substantial project allocations.