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since 2009
Tuesday, July 21, 2026
Latin America Argentina

Vaca Muerta Can Supply Southern Cone Gas for 50 Years, Brazil Says

By · April 30, 2026 · 2 min read

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Key Points

—A bilateral Brazil-Argentina report confirms Vaca Muerta gas can meet Southern Cone demand for over 50 years at competitive production costs.

—Brazil’s Energy Ministry proposes a $1.6 billion, 593-km pipeline from Uruguayana to Porto Alegre to carry Argentine gas.

—Argentine gas at $5-5.50/MMBTU competes against $16-17 in Brazilian industry, creating a massive price arbitrage opportunity.

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The Vaca Muerta gas potential has received its most authoritative endorsement yet — not from Buenos Aires, but from Brasília, in a bilateral technical report that lays out the infrastructure blueprint for regional energy integration.

The Rio Times, the Latin American financial news outlet, reports that Brazil’s Ministry of Mines and Energy published a bilateral working group report confirming that Argentina’s Vaca Muerta formation has sufficient reserves to supply Southern Cone natural gas demand for more than 50 years at competitive production costs. The document, produced by a Brazil-Argentina technical group established under a 2024 memorandum of understanding, identifies specific pipeline routes, investment requirements, and regulatory harmonization steps needed to make the gas flow.

The Vaca Muerta Gas Opportunity by the Numbers

Vaca Muerta currently produces over 125 million cubic meters of unconventional gas per day, a figure that industry analysts believe could triple. Argentine gas costs $5 to $5.50 per million BTU at the wellhead, while Brazilian industrial consumers pay $16 to $17 — a threefold price arbitrage that makes cross-border trade economically compelling even after transport costs.

Vaca Muerta Can Supply Southern Cone Gas for 50 Years, Brazil Says. (Photo Internet reproduction)
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The report’s preferred route is a new 593-kilometer, 24-inch pipeline from Uruguayana on the Argentine border to Triunfo in the Porto Alegre metropolitan area, at an estimated capital cost of $1.6 billion. This route would solve bottleneck problems in the existing GasBol pipeline from Bolivia and create a dedicated corridor for Argentine supply to southern Brazil’s industrial heartland.

Live Company IntelligencePorto Seguro S.A — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
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◆ Live Company Intelligence
Porto Seguro
SA: PSSA3PSSA3Financial ServicesInsurance – Diversified13,491 employees
$34.74B
Market cap

Valuation & profitability

Market cap$34.74B
Revenue (TTM)$44.32B
P / E ratio9.5
Profit margin8.3%
Return on equity25.2%

Price & risk

52-wk low
$42.8752-wk high
$55.41
Beta (volatility)0.45
200-day average$49.60

Revenue trend · 6y

20202025
Latest $42.75B

Ownership

Institutions15.5%
Shares outstanding641M

Dividend

No regular dividend — earnings reinvested for growth.
What Porto Seguro does. Porto Seguro S.A., together with its subsidiaries, provides a range of insurance products and services in Brazil and Uruguay. It offers auto, residential, travel, cell phone, life, motorcycle, notebook and tablet, photo and video, smart and games, bike, real estate, green card, bail, and moving insurance products, as well as reinsurance, combined…
Data: EODHD fundamentals (PSSA3.SA) · figures in USD · as of 21 Jul 2026More company intelligence →

Why This Matters Now

The Iran war has made energy security a strategic priority across Latin America. Bolivian gas exports to Brazil have been declining for years as Bolivia’s reserves deplete, leaving southern Brazilian states facing a supply gap that Vaca Muerta is uniquely positioned to fill. The first test shipments of Argentine gas reached Brazil earlier in 2026 via the existing GasBol system.

For Argentina, the energy export story extends beyond gas. The country recently broke records in energy exports overall, and the Rystad Energy consultancy projects Vaca Muerta could reach 1 million barrels of oil per day before 2030. The bilateral report adds a Brazilian government stamp to Argentina’s ambition to become South America’s dominant energy exporter — a role that would fundamentally reshape the region’s geopolitical balance.

Related Coverage

Argentina Economy 2026 Guide •
Oil & Energy in Latin America 2026 •
Iran War & Hormuz Crisis Guide

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