France’s TotalEnergies plans to increase natural gas production
from its Argentine operations, including offshore fields and the
Vaca Muerta shale formation, to meet growing demand in domestic and
regional markets, company executives said during an energy
conference in Buenos Aires, S&P Global reported.
The company, Argentina’s largest natural gas producer, is
currently producing between 36mn and 38mn cubic metres of gas per
day and aims to maintain and potentially increase that output
through new developments in southern Argentina and Vaca Muerta,
according to Sergio Mengoni, head of TotalEnergies’ operations in
the country.
A key objective is to expand exports to neighbouring countries.
Argentina is connected by pipeline networks to Brazil, Chile and
Uruguay, while producers have also been using available transport
capacity in Bolivia to ship gas to Brazil as Bolivian production
declines. Regional exports currently stand at around 10 million
cubic metres per day, with Chile receiving most of those
volumes.
“The potential is in the regional market is large,” Mengoni
said.
To support future growth, TotalEnergies is evaluating additional
investments in its offshore operations in Tierra del Fuego
province, where production currently ranges between 20mn and
21mn cubic metres per day. Options under consideration include
installing a new production platform, developing subsea
infrastructure linked to existing facilities and exploring
prospects in the nearby Malvinas Basin, which is believed to hold
oil and gas resources.
The company is also looking to expand production from Aguada
Pichana Este in Vaca Muerta, Argentina’s largest shale formation.
TotalEnergies currently produces about 14mn cubic metres per day at
the field and plans to increase output to 16 million cubic metres
per day, with longer-term potential reaching 30mn cubic metres per
day.
“The gas is there, and we want to keep developing it to grow,”
Mengoni said.
Beyond conventional gas sales, the company sees opportunities
linked to the processing of natural gas into higher-value products.
Mengoni pointed to plans by Transportadora de Gas del Sur (TGS) to
invest $3bn in a gas processing facility capable of producing
2.7mn tonnes of natural gas liquids annually, a project that could
create additional demand for upstream production.
“This opens the door for producers like us to develop fields,”
Mengoni said. “This is a complement for us to continue growing in
this market.”
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