Tender award under the Plan Gas.Ar
Buenos Aires, December 16, 2020. Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; ByMA: PAMP) informs that yesterday the Secretariat of Energy (‘SE’) issued Resolution No. 391/2020, awarding the volumes and prices tendered under the Plan Gas.Ar, approved by the Executive Decree No. 892/2020.
From a total of 2.4 billion cubic feet/day of natural gas under auction, the Company ranked fifth nationwide and third at the Neuquina Basin in terms of tendered gas volume, being awarded a base volume of 173 million cubic feet/day at an average annual price of US$3.60 per million BTU for a four-year term starting January 1, 2021. Furthermore, the Company was one of the three sole producers tendering additional volume during the winter season, being awarded 35 million cubic feet/day at a price of US$4.68 per million BTU.
Hence, Pampa achieved the highest growth in tendered production, being the winter peak injection 20% higher than average production between May and July 2020. This winter volume is key to support the highly seasonal Argentine gas demand, reducing imports of foreign gas, alternative fuel usage as well as moderating the disburse of foreign currency reserves.
It is worth mentioning that the Company’s positioning minimizes the demand’s contractual risk and materializes the strong investment commitment, which will amount to roughly US$250 million during the four years of Plan Gas.Ar.
For further information, please contact:
Gustavo Mariani – CEO
Gabriel Cohen – CFO
Lida Wang – IR and sustainability officer
The Pampa Energía Building
Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000