After Vaca Muerta’s first dry gas wave, new factors are shaping the Argentina gas market: the expansion of renewables, a tender this year for the new Neuquen-Salliqueló-San Nicolas pipeline, and the increase of cheap associated gas from Vaca Muerta’s oil window. In this Southern Cone Gas and Power Service report, we analyse: 1. How much renewables capacity will be added, and how are renewables impacting the power and gas markets? 2. What will the gas flows be in the first (Neuquen-Salliqueló) and second phases (Salliqueló-San Nicolas), and what markets they will supply? 3. Will Argentina have the same weight of associated gas as the US Lower 48 in the supply cost curve? 4. How will the Argentina gas market be balanced in the future? Will there be sufficient volumes for LNG export projects?