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LOANS (Tables)
 12 Months Ended
Dec. 31, 2021
LOANS [Abstract]  
Short-term and Long-term Loans
Short-term and long-term loans as of December 31, 2021 and 2020 comprise the following:

    2021     2020  
Current Loans
            
2018 Notes Interest
    
551,898
      
689,346
  
Leasing (Note 21)
    
628,707
      
724,624
  
Total Current loans
    
1,180,605
      
1,413,970
  
Non Current Loans
                
2018 Notes
    
49,004,951
      
61,161,618
  
Leasing (Note 21)
    
2,393,806
      
3,641,637
  
Total non current loans
    
51,398,757
      
64,803,255
  
Total (1)
    
52,579,362
      
66,217,225
  

(1)
As of December 31, 2021 and 2020, it is net of Notes repurchase of Ps 2,302,366 and Ps. 2,233,474, respectively.
(2)
Net of issuance expenses of Ps. 52,683 and Ps. 113,602 as of December 31, 2021 and 2020, respectively.
Activity of Loans
The activity of the loans as of December 31, 2021 and 2020 is the following:

   
2021
    
2020
  
   
Leases
liabilities
    
Other
payables
    
Leases
liabilities
    
Other
payables
  
Beginning balance
    
4,366,261
      
61,850,964
      
4,885,463
      
64,124,789
  
Inflation adjustment restatement
    
(1,624,395
)
    
(23,100,500
)
    
(1,924,738
)
    
(18,908,348
)
Accrued interest
    
291,753
      
3,758,762
      
365,787
      
4,174,649
  
Effect of foreign exchange effect
    
888,236
      
11,342,907
      
1,735,430
      
20,762,265
  
VAT unpaid installments
    
13,456
      
-
      
16,617
      
-
  
Notes repurchase result
    
-
      
414,204
      
-
      
(602,794
)
Payment of loans
    
-
      
-
      
-
      
(2,043,917
)
Principal payments of lease liabilities(1)     (597,517 )     -       (288,252 )     -  
Cost of repurchase of notes
    
-
      
(959,594
)
    
-
      
(1,509,131
)
Interest paid(2)
    
(315,281
)
    
(3,749,894
)
    
(424,046
)
    
(4,146,549
)
Ending balance
    
3,022,513
      
49,556,849
      
4,366,261
      
61,850,964
  

(1)
For the years ended on December 31, 2021 and 2020, Ps. 597,517 and Ps. 288,252 respectively were cancelled through the offseting of debit balances maintained with the creditor (Pampa Energía).
(2)
For the years ended on December 31, 2021 and 2020, Ps. 315,281 and Ps. 424,046, respectively, were cancelled through the offseting of debit balances maintained with the creditor (Pampa Energía).
Maturities of Current and Non-Current Loans
The maturities of the current and non-current loans as of December 31, 2021 are as follows, not including issuance expenses:

         
To due
        
   
Due at 12/31/2021
    
From 1/01/2022 to 12/31/2022
    
From 1/01/2023 to 12/31/2023
    
From 1/01/2024 to 12/31/2024
    
From 1/01/2025 to 12/31/2025
    
From 1/01/2026 onwards
    
Total
  
2018 Notes
    
-
      
551,898
      
-
      
-
      
49,004,951
      
-
      
49,556,849
  
Financial Leasing
    
77,433
      
551,274
      
597,499
      
647,668
      
702,049
      
446,590
      
3,022,513
  
Total
    
77,433
      
1,103,172
      
597,499
      
647,668
      
49,707,000
      
446,590
      
52,579,362
  
Future Minimum Lease Payments and Present Book Value
The following table sets reconciliation between the total of future minimum lease payments as of December 31, 2021, and their present book value:

   
12/31/2021
  
As of 12/31/2022
    
845,777
  
From 1/01/2023 to 12/31/2023
    
768,448
  
From 1/01/2024 to 12/31/2024
    
768,448
  
From 1/01/2025 to 12/31/2025
    
768,448
  
From 1/01/2026 onwards
    
459,056
  
Total minimum future payments
    
3,610,177
  
Future financial charges on financial leases
    
(587,664
)
Book Value financial leases
    
3,022,513
  
Conditions of 2018 Notes
On May 2, 2018, within the framework of the 2017 Program, the Company issued the 2018 Notes according to the following characteristics:

 
2018 Notes
Amount in U.S.$
500,000,000
Interest Rate
6.75% annual
Issuance price
99.725%

 
Scheduled payment
date
Percentage of
the principal to
be paid
Amortization
May 2, 2025
100%
Frequency of interest payment
 Semiannual, payable on May 2 and November 2 of each year.
Guarantor
None
Details of Pre-export Finance
On November 5, 2019, the Company agreed with Itaú Unibanco S.A. the granting of a loan for US $ 17 million in order to pre-finance the exports of propane, butane and natural gasoline made. The characteristics of this loan are as follows:

Amount in US$
17,000,000
Interest Rate          
LIBOR + 1.95%
 
Scheduled
payment date
Percentage of
the principal
to be paid
Amortization
March 4, 2020
100%
Frecuency of interest payment
Monthly, payable on December 4, 2019, January 6, 2020, February 4, 2020 and March 4, 2020
Guarantor
US Treasury bills *