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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000931427-05-000011.txt : 20050830
<SEC-HEADER>0000931427-05-000011.hdr.sgml : 20050830
<ACCEPTANCE-DATETIME>20050829182536
ACCESSION NUMBER:		0000931427-05-000011
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050829
FILED AS OF DATE:		20050830
DATE AS OF CHANGE:		20050829

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GAS TRANSPORTER OF THE SOUTH INC
		CENTRAL INDEX KEY:			0000931427
		STANDARD INDUSTRIAL CLASSIFICATION:	NATURAL GAS TRANSMISSION [4922]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13396
		FILM NUMBER:		051056668

	BUSINESS ADDRESS:	
		STREET 1:		DON BOSCO 3672 5TH FLR
		STREET 2:		1206 CAPITAL FEDERAL
		CITY:			ARGENTINA
		STATE:			C1
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6kclosing1swap.htm
<DESCRIPTION>RELEVANT INFORMATION
<TEXT>
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<TITLE>Converted by FileMerlin</TITLE>
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<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><B>Washington, DC 20549</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><B>_____________</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><B>FORM 6-K</B></P>
<P style="margin:0pt; font-family:Courier New; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><B>Report of Foreign Issuer</B></P>
<P style="margin:0pt; font-family:Courier New; font-size:11pt" align=center><BR></P>
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<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>Pursuant to Rule 13a-16 or 15d-16 of</P>
<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>the Securities and Exchange Act of 1934</P>
<P style="margin:0pt; font-family:Courier New; font-size:11pt" align=center><BR></P>
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<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>For August 29, 2005</P>
<P style="margin:0pt; font-family:Courier New; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><B>Transportadora de Gas del Sur S.A.</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>Don Bosco 3672, Fifth Floor</P>
<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>1206 Capital Federal</P>
<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>Argentina</P>
<P style="margin:0pt; font-family:Courier New; font-size:11pt" align=center><BR></P>
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<P style="margin:0pt; text-indent:21.3pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=justify>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</P>
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<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>Form 20-F</P>
<P style="margin-top:0pt; margin-bottom:-13pt; text-indent:72pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><U>&nbsp;X</U></P>
<U><P style="margin-top:0pt; margin-bottom:-13pt; text-indent:144pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center></U>Form 40-F</P>
<P style="margin-top:0pt; margin-bottom:-13pt; text-indent:216pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><U>&nbsp;</U></P>
<P style="margin:0pt; text-indent:252pt; font-family:Courier New; font-size:11pt" align=center><U><BR></U></P>
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<P style="margin:0pt; font-family:Courier New; font-size:11pt"><BR></P>
<P style="margin:0pt; text-indent:21.3pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=justify>Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to the Rule 12g3-2(b) under the Securities Exchange Act of 1934.</P>
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<P style="margin:0pt; font-family:Courier New; font-size:11pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center>Yes</P>
<U><P style="margin-top:0pt; margin-bottom:-13pt; text-indent:108pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center></U>No</P>
<P style="margin-top:0pt; margin-bottom:-13pt; text-indent:144pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=center><U>X </U></P>
<P style="margin:0pt; text-indent:180pt; font-family:Courier New; font-size:11pt" align=center><U><BR></U></P>
<P style="margin:0pt; font-family:Courier New; font-size:11pt"><BR></P>
<P style="margin:0pt; text-indent:21.3pt; line-height:13pt; font-family:Courier New; font-size:11pt">If &quot;Yes&quot; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):</P>
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<P style="margin:0pt; line-height:13pt; font-family:Courier New; font-size:11pt" align=justify>This Form 6-K contains the following information, which has been filed with the Bolsa de Comercio de Buenos Aires, and the Comisi&#243;n Nacional de Valores.</P>
<P style="margin:0pt; padding-left:17.85pt; text-indent:-17.85pt; font-family:Courier New; font-size:11pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:28.5pt; text-indent:-28.5pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>-</P>
<P style="margin:0pt; padding-left:28.5pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><FONT FACE="Courier New">Press release announcing the closing of the first stage of the agreement entered into by the shareholders of TGS&#146;s controlling company.</FONT></P>
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<P style="margin:0pt; line-height:18pt; font-family:Times New Roman; font-size:16pt" align=center><U>TGS Announces the Closing of the First Stage of the Agreement entered into by the Shareholders of its Controlling Company</U></P>
<P style="margin:0pt; font-family:Arial; font-size:12pt"><BR></P>
<P style="margin:0pt; padding-left:184.3pt; text-indent:-184.3pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>FOR IMMEDIATE RELEASE: Monday, August 29, 2005</B></P>
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<P style="margin:0pt; font-family:Times New Roman" align=justify><B>Buenos Aires, Argentina - Transportadora de Gas del Sur S.A. </B>(&#147;TGS&#148; or &#147;the Company&#148;) (NYSE: TGS, MERVAL:TGSU2) announces the closing of the first stage of the Master Settlement and Mutual Release Agreement ( the &#147;Settlement Agreement&#148;), entered into by the shareholders of Compa&#241;&#237;a de Inversiones de Energ&#237;a S.A. (&#147;CIESA&#148;), the Company&#146;s controlling shareholder. &nbsp;The subscription of the Settlement Agreement was announced by TGS on April 16, 2004.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Today, TGS was informed that, according to the provisions of the Settlement Agreement: (i) Petrobras Energ&#237;a S.A. and its subsidiary Petrobras Hispano Argentina S.A. have transferred in favor of certain Enron Corp affiliates (&#147;Enron&#148;) 58,410,452 of TGS class &#147;B&#148; common shares and, (ii) at the same time Enron has transferred 40% of CIESA&#146;s capital stock to a trust, which trustee is ABN AMRO BANK N.V. Sucursal Argentina (the &#147;trustee&#148;), who will administrate and transfer these shares to whom CIESA designates.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>According to the Settlement Agreement, these share transfers are aimed at enhancing CIESA&#146;s financial debt restructuring.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>In the second stage of the Settlement Agreement and subject to the approval of the Argentine regulatory authorities and, in case that CIESA agrees with its creditors the restructuring of its financial debt, Enron will transfer its remaining 10% shareholding in CIESA to the creditors, trustee or alternative entity, as may be agreed in the CIESA&#180;s debt restructuring agreement, in exchange for the simultaneous transfer of the TGS&#146; class &#147;B&#148; common shares held by CIESA, which represents 4.3% of TGS&#146;s capital stock.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
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<P style="margin:0pt; font-family:Times New Roman" align=justify><B><I>TGS, with a current firm contracted capacity of approximately 66.4 MMm&#179;/d or 2.3 Bcf/d, is Argentina&#146;s leading transporter of natural gas. The Company is also Argentina&#146;s leading processor of natural gas and one of the largest marketers of natural gas liquids. &nbsp;TGS is quoted on both the New York and Buenos Aires stock exchanges under the ticker symbols TGS and TGSU2, respectively. &nbsp;TGS&#146;s controlling shareholder is Compa&#241;&#237;a de Inversiones de Energ&#237;a S.A. (&#147;CIESA&#148;), which together certain Enron Corp. subsidiaries, hold approximately 70% of the Company&#146;s common stock. CIESA is currently owned 50% by Petrobras Energ&#237;a S.A. and one of its subsidiary, 40% by a trust and 10% by a subsidiary of Enron Corp.</I></B></P>
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