Argentina has the third largest proven reserves of natural gas in Latin America
(after Venezuela and Mexico), at over 27 trillion cubic feet (Tcf), and probable
reserves are much higher. Argentina overtook Venezuela to become the region's
second-largest gas producer in 1999 (Mexico is the largest producer). The
largest producing basins are Neuquén, Austral, and Noroeste, with the
Neuquén basin alone accounting for about 60% of Argentine gas production.
Production in the Austral basin is constrained by the capacity of its pipeline
to Buenos Aires. Supply of Argentine gas currently exceeds combined domestic
and export demand.