martes, 13 de diciembre de 2011

Balance TGS en Inglés

BALANCES AND TRANSACTIONS WITH RELATED COMPANIES
In January 2011 and for the year ended December 31, 2010, TGS sold propane and butane to PIFC, at
international prices minus a fixed discount per ton, according to common market practices for this type of
transactions.
As from July 2011, the Company signed an agreement to sell natural gasoline to Petroleo Brasileiro. The price
is determined by reference international prices minus a fixed discount per ton, according to common market
practices for this type of transactions. Said agreement will be effective until November 2012.
Petrobras Argentina is TGS’s technical operator, according to the approval of ENARGAS in June 2004, and
subject to the terms and conditions of the Technical Assistance Agreement which provides that Petrobras
Argentina is in charge of providing services related to the operation and maintenance of the gas transportation
system and related facilities and equipment, to ensure that the performance of the system is in conformity with
international standards and in compliance with certain environmental standards. For these services, the
Company pays a monthly fee based on a percentage of the operating income of the Company. In November
2008, TGS and Petrobras Argentina approved the renewal of the Technical Assistance Agreement for a threeyear
term, expiring on December 28, 2011.
Additionally, TGS renders natural gas transportation services to Petrobras Argentina, for a 106 MMcf/d firm
capacity by means of two contracts which expire in 2013 and 2014. Moreover the Company, under certain
agreements, processes the natural gas in Cerri Complex and commercializes the liquids for Petrobras
Argentina’s account and on behalf of it. For consideration, TGS collects a commission which is calculated over
the liquids selling price.
As of September 30, 2011 and December 31, 2010, the outstanding balances corresponding to the Board of
Directors’ and the Statutory Committee members’ compensations amounted to Ps. 542 and Ps. 714,
respectively. The accrued amounts for such compensations for the nine-month periods ended September 30,
2011 and 2010 were Ps. 1,495 and Ps. 1,207, respectively.

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