We have increased our long-term and short-term outlooks for gas demand across the Southern Cone of South America as a result of regulatory reforms, more competitive costs and new LNG regas projects in the region. During this update we are also including enhancements to our modelling, adding geographical and temporal granularity to both our gas and power models. Although our short-term outlook has increased since the 2016 H2 update, markets are to remain lacklustre when compared to the peaks of 2013-2015. It won't be until 2022-2025 that the total gas market size will surpass those figures. The main drivers for growth in the medium and long-term are gas-for-power demand in Brazil, the decline of the Campos field, and steady demand growth in Chile and Argentina. After 2025, new offshore fields in Campos and the Santos Basin, plus growth in unconventional gas production in Argentina will put downward pressure again on LNG imports.