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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000931427-07-000004.txt : 20070404
<SEC-HEADER>0000931427-07-000004.hdr.sgml : 20070404
<ACCEPTANCE-DATETIME>20070403183732
ACCESSION NUMBER:		0000931427-07-000004
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070403
FILED AS OF DATE:		20070404
DATE AS OF CHANGE:		20070403

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:		07746189

	BUSINESS ADDRESS:	
		STREET 1:		DON BOSCO 3672 5TH FLR
		STREET 2:		1206 CAPITAL FEDERAL
		CITY:			ARGENTINA
		STATE:			C1
		ZIP:			00000
		BUSINESS PHONE:		005401148659050X1093

	MAIL ADDRESS:	
		STREET 1:		DON BOSCO 3672 5TH FLR
		STREET 2:		CAPITAL FEDERAL
		CITY:			ARGENTINA
		STATE:			C1
		ZIP:			1206
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f033007.htm
<DESCRIPTION>BOARD OF DIRECTORS' MEETING HELD ON MARCH 30, 2007
<TEXT>
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<META NAME="author" CONTENT="Adrian Hubert">
<META NAME="date" CONTENT="04/03/2007">
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center><FONT FACE="Courier New"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center><B>Washington, DC 20549</B></P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center><B>_____________</B></P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center><B>FORM 6-K</B></P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center><B>Report of Foreign Issuer</B></P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>Pursuant to Rule 13a-16 or 15d-16 of</P>
<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>the Securities and Exchange Act of 1934</P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>For April 3, 2007</P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center><B>Transportadora de Gas del Sur S.A.</B></P>
<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>Don Bosco 3672, Fifth Floor</P>
<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>1206 Capital Federal</P>
<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>Argentina</P>
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<P style="line-height:13pt; margin:0pt; text-indent:21.3pt; font-family:Courier New; font-size:11pt">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="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>Form 20-F<U>&nbsp;X </U>&nbsp;&nbsp;Form 40-F<U>&nbsp;</U></P>
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<P style="line-height:13pt; margin:0pt; text-indent:21.3pt; font-family:Courier New; font-size:11pt">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="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=center>Yes<U>_</U> &nbsp;No <U>X </U></P>
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<P style="line-height:13pt; margin:0pt; 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="line-height:13pt; margin:0pt; font-size:11pt" align=right><FONT FACE="Times New Roman">Buenos Aires, April 3, 2007 </FONT></P>
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<P style="line-height:18.5pt; margin:0pt; font-size:11pt"><B>Messrs.</B></P>
<P style="margin:0pt; font-size:11pt" align=justify><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="line-height:18pt; margin:0pt; font-size:11pt"><B>WASHINGTON, DC 20549</B></P>
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<P style="line-height:13pt; margin:0pt; font-size:11pt">Dear Sirs,</P>
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<P style="line-height:20pt; margin:0pt; font-size:12pt" align=justify>We are pleased to contact you in order to inform you that in the Board of Directors Meeting held on this date, the Board approved the commencement of proceedings aimed at refinancing the indebtedness that had been restructured on December 15, 2004 (the &#147;Restructured Debt&#148;), with the aim of improving the Company&#146;s indebtedness profile and loosen the restrictive covenants that bind the Restructured Debt. </P>
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<P style="line-height:20pt; margin:0pt; font-size:12pt" align=justify>To such purposes, the Board approved the sub-delegation of the powers conferred by the Shareholders Meeting held on December 21, 2006, so that the sub-delegates, thereby appointed, may proceed at any time they deem appropriate in order to: </P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-36pt; font-size:12pt" align=justify>(i)</P>
<P style="line-height:20pt; margin:0pt; padding-left:54pt; font-size:12pt" align=justify>Make a purchase offer for all outstanding term notes - whether publicly or privately placed- (the &#147;Purchase Offer&#148;), which were issued on December 15, 2004.</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-36pt; font-size:12pt" align=justify>(ii)</P>
<P style="line-height:20pt; margin:0pt; padding-left:54pt; font-size:12pt" align=justify>Make a redemption and early amortization of all notes which have not been part of the Purchase Offer and of the loan agreements with the Inter-American Development Bank (&#147;IDB&#148;), as applicable (the &#147;Redemption of the Restructured Debt&#148;).</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-36pt; font-size:12pt" align=justify>(iii)</P>
<P style="line-height:20pt; margin:0pt; padding-left:54pt; font-size:12pt" align=justify>Start the proceedings for the future issuance of notes in a maximum amount of US$ 500,000,000, in one or more tranches and/or series.</P>
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<P style="line-height:20pt; margin:0pt; padding-left:18pt; font-size:12pt" align=justify>In addition, please note that in spite of having delegated in the sub-delegates the power to determine the timing to proceed with items (i) to (iii), in line with market conditions, both the Purchase Offer and the Redemption of the Restructured Debt shall be subject to the success of the issuance of future notes within the framework of the Program approved on January 18, 2007 by the Argentine Securities Commission (<I>Comisi&#243;n Nacional de Valores</I>), pursuant to Resolution No. 15,570, the update of which was approved by the Board in the meeting held on this date. </P>
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<P style="line-height:20pt; margin:0pt; font-size:12pt" align=justify>Yours faithfully,</P>
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</DIV><TABLE style="font-size:10pt" cellspacing=0><TR><TD width=146.75></TD></TR>
<TR><TD valign=top width=202.067><P style="margin:0pt" align=center><B><I>Adri&#225;n Hubert</I></B></P>
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<TR><TD valign=top width=202.067><P style="margin:0pt" align=center><B><I>Attorney in fact</I></B></P>
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<P style="line-height:14pt; margin:0pt; text-indent:-17.85pt; font-family:Courier New; font-size:12pt" align=center><FONT FACE="Courier New">SIGNATURES</FONT></P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
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<P style="line-height:13pt; margin:0pt; font-family:Courier New; font-size:11pt" align=right><B>Transportadora de Gas del Sur S.A.</B></P>
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<TR><TD valign=top width=34.467><P style="line-height:13pt; margin:0pt; font-family:Courier New"><B>By:</B></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=254.267 colspan=3><P style="line-height:14pt; margin:0pt; font-family:Courier New" align=center><B>/s/Eduardo Pawluszek</B></P>
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<TR><TD style="border-bottom:0.75pt solid #000000" valign=top width=34.467><P style="margin:0pt; font-family:Arial"><FONT FACE="Arial">&nbsp;</FONT></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=14.133><P style="margin:0pt; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=58.467><P style="line-height:11pt; margin:0pt; font-family:Courier New"><FONT FACE="Courier New"><B>Name:</B></FONT></P>
</TD><TD valign=top width=194.467><P style="line-height:11pt; margin:0pt; font-family:Courier New"><B>Eduardo Pawluszek</B></P>
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<TR><TD valign=top width=34.467><P style="margin:0pt; font-family:Arial"><FONT FACE="Arial">&nbsp;</FONT></P>
</TD><TD valign=top width=14.133><P style="margin:0pt; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=58.467><P style="line-height:11pt; margin:0pt; font-family:Courier New"><FONT FACE="Courier New"><B>Title:</B></FONT></P>
</TD><TD valign=top width=194.467><P style="line-height:11pt; margin:0pt; font-family:Courier New">Chief Financial Officer</P>
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</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=233.2 colspan=3><P style="line-height:14pt; margin:0pt; font-family:Courier New" align=center><B>/s/Carlos Ariosa</B></P>
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<TR><TD style="border-bottom:0.75pt solid #000000" valign=top width=38.4><P style="margin:0pt; font-family:Arial"><FONT FACE="Arial">&nbsp;</FONT></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=14.4><P style="margin:0pt; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=58.467><P style="line-height:11pt; margin:0pt; font-family:Courier New"><FONT FACE="Courier New"><B>Name:</B></FONT></P>
</TD><TD valign=top width=173.133><P style="line-height:11pt; margin:0pt; font-family:Courier New"><B>Carlos Ariosa</B></P>
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<TR><TD valign=top width=38.4><P style="margin:0pt; font-family:Arial"><FONT FACE="Arial">&nbsp;</FONT></P>
</TD><TD valign=top width=14.4><P style="margin:0pt; font-family:Arial">&nbsp;</P>
</TD><TD valign=top width=58.467><P style="line-height:11pt; margin:0pt; font-family:Courier New"><FONT FACE="Courier New"><B>Title:</B></FONT></P>
</TD><TD valign=top width=173.133><P style="line-height:11pt; margin:0pt; font-family:Courier New">Senior Legal Counsel</P>
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