The National Government approved the regulation of the articles 101 to 152 y 153 to 158 of Law No. 27.742, which modifies the Hydrocarbons Law (No. 17.319) and the Natural Gas Lawl (No. 24.076). These reforms aim to make hydrocarbon activity more flexible, promoting exploration, exploitation, exportation and greater competitiveness in the sector.
The regulations are established by the Decree 1057 / 2024, which includes its corresponding annexes. The decree was signed by President Javier Milei, together with Ministers Guillermo Francos and Luis Caputo, and published in the Official Gazette on Friday (29.11.2024).
The decree also introduces changes aimed at promoting the production of Liquefied Natural Gas (LNG) and underground gas storage, in an effort to harmonize environmental legislation in collaboration with the provinces and the Autonomous City of Buenos Aires. Its objective is to implement international best practices in the environmental management of the industry.
Likewise, previous provisions related to gas exports are repealed, with the aim of providing greater legal security for investments and establishing an appropriate regulatory framework for the sustained development of the hydrocarbon industry in the coming years, promoting the creation of quality employment and increased exports, as mentioned in the commentary of the decree.
The decree will enter into force immediately upon its official publication.
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