Trust Charges

Specific Fee Gas I Expansion 2005 (1) Specific Fee Gas II Expansion 2006-2008 (1) Specific Fee Gas II Expansion 2006-2008 (1)
Production Distribution General General GNC Category
Salta Salta 0,041806 0,494698 0,041806
Tucumán 0,088367 1,045668 0,088367
Centro 0,164271 1,943856 0,164271
Litoral 0,214330 2,536217 0,214330
Aldea Brasilera 0,229691 2,717990 0,229691
GBA 0,253920 3,004699 0,253920
Neuquén Cuyana 0,107744 1,274959 0,107744
Central (Sur) 0,109525 1,296041 0,109525
Litoral 0,157442 1,863053 0,157442
Aldea Brasilera 0,173728 2,055764 0,173728
GBA 0,191669 2,268066 0,191669
Entre Ríos 0,227559 2,692758 0,227559
Centro Sur Centro Norte 0,047917 0,567012 0,047917
Litoral GBA (d/Neuquén) 0,034227 0,405013 0,034227

(1) Monthly fee per each cubic meter/day of natural gas reserved transportation capacity.

See Resolution N° 2289/2010.

A trust charges was created by executive decree N° 180/4 to address the investments in gas transportation and distribution. The trust is created for the licensees of these services and it will have the exclusive purpose of financing extension works according to section 2° Act 24076, specially under subsection b).

This Trust Charges is comprised by: (i) fees paid by the final users of the regulated services; (ii) assets obtained under special credit programs that can be arranged with the corresponding national or international agencies or institutions; and (iii) other specific payments made by the direct beneficiaries.

Resolution N° 185/04 from the Ministry of Federal Planning, Public Investment and
Services (MPFIPyS), issued in accordance to Decree N° 180/04, it provides that the
Department of Energy shall create a Gas Trust Program dedicated to financing infrastructure works for transportation and distribution of natural gas. It also provides that ENARGAS shall approve the Works in compliance to what is stablished under this resolution and the fees to be stablished to integrate the trust equities of any of the Trust Funds specified under this regulation.

Resolution N° 2289/10 of the MPFIPyS approved the applicable fees for the Gas Trusts
I and II, in force since December 1, 2010.

Expansion 2005

Under Note ENRG/GDyE/GAL/D N° 3069, dated on June 16, 2004, the National Gas
Regulatory Entity (ENARGAS) established the current Gas Trust I fees as a financial resource for investments on natural gas transport. In July 2005 in accordance to the ENARGAS’s Note N° 3,767 we started invoicing “Gas Trust I” fees to the order of “Fideicomiso de Gas-Ampliación Gasoducto Norte”. The invoices are paid directly by the customers through a deposit made in a trust account in Banco de la Nación Argentina.

Expansion 2006-2008

On December 6, 2006, the Financial Fund “Obra Gasoductos Norte y Sur 2006-2008” where subscribed to make possible the financing, execution and repay of the necessary
works to satisfy the STF Services awarded under the Open Tender TGN N° 01/05 and TGS N° 02/05. On December 28, 2006, MPFIPyS Resolution N° 2008 approved the decisions of the Department of Energy and ENARGAS regarding the implementation of Gas I Specific fee. Gas Trust II Specific fee was created as a financial flow of said Trusts in order to comply with the purpose of Act 26095 and its regulatory decree. Gas Trust II fees where stablished by ENARGAS Resolution N° 3689 from January 9, 2007, effective from January 1, 2007. As from December 1, 2010, the fees of Gas Trusts I and II were modified by Resolution N° 2289/10. The following chart shows the updated values from this resolution.