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Petrobras revives billion-dollar project that had been abandoned for 16 years and promised to change Brazil: R$75 BILLION at stake and 30 THOUSAND jobs in sight

Written by Alisson Ficher
Published 11/09/2024 às 18:22
Petrobras completes the GasLub Hub, formerly Comperj, after 16 years. (Image: reproduction)
Petrobras completes the GasLub Hub, formerly Comperj, after 16 years. (Image: reproduction)

Petrobras completes the GasLub Hub, formerly Comperj, after 16 years of stoppages and corruption scandals. The project now focuses on processing natural gas from the pre-salt layer, promising to have an impact on the Brazilian energy market.

After 16 years of waiting and billions in losses, Petrobras finally gave life to what was once considered one of the greatest symbols of corruption in the country.

But what led this energy giant to revive a billion-dollar project that many considered dead? Will this time, the comperj will really deliver on its promises?

Last Friday (06), Petrobras received authorization from the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to start receiving natural gas from the pre-salt fields in the now called GasLub Itaboraí Center.

The work, which began in 2008 and was marked by corruption scandals, has been completed again, but with a very different scope than originally planned.

R$75 billion and 30 thousand jobs: what remains of the original dream?

The Comperj project, which envisaged a large petrochemical complex, has been reduced to a natural gas processing unit. The official inauguration is scheduled for this Friday (13), and the event will be attended by the president Luiz Inácio Lula da Silva.

The objective? To process the natural gas extracted from the pre-salt fields, brought by a 355-kilometer gas pipeline, most of it underwater.

Even with a reduced scope, the impact capacity is impressive.. The structures installed at Polo GasLub have the capacity to process 21 million cubic meters of gas per day.

According to Petrobras' Director of Engineering, Technology and Innovation, Renata Baruzzi, this volume is higher than the gas imports made by the company currently, which means that the new hub will contribute significantly to the Brazil's energy self-sufficiency.

The saga of corruption and strikes

Comperj was conceived as a ambitious project to attract plastic factories and petrochemical industries to Itaboraí, in Rio de Janeiro.

However, the project turned into one of the greatest symbols of Operation Lava Jato, with Petrobras' involvement in corruption scandals, overbilling and payment of bribes.

Since 2008, the state-owned company has already recorded at least US$ 14 billion in losses related to the enterprise.

In 2015, the works were stopped. During Michel Temer's government, between 2017 and 2018, Petrobras completely abandoned plans to build refineries on the site, reducing the scope of the project.

Even so, the completion of the UPGN (Natural Gas Processing Unit) and Route 3, one of the parts of the submarine gas pipeline network, faced several stoppages.

The economic crisis caused by the Covid-19 pandemic and disagreements with construction companies in 2022 also delayed progress.

New plans in sight: the future of Polo GasLub

The president Squid should be present at the inauguration of the hub next Friday, which reinforces the expectation that the government will continue with expansion projects at the site.

O Petrobras Strategic Plan 2024-2028 already foresees the construction of diesel and biofuels, such as aviation biokerosene.

The plan is seen as fundamental to the energy transition of the country and to reduce dependence on fossil fuels.

Despite this, the execution of this strategic plan, which involves investments of US $ 102 billion, was one of the factors that resulted in the departure of Jean-Paul Prates of the presidency of Petrobras in the Lula government.

Magda Chambriard, who took office in June 2024, now has the mission of accelerating these works, including the expansion of the Polo GasLub.

In addition to refineries, Petrobras also announced its intention to build a thermoelectric park on site, with the capacity to generate up to 1,867 gigawatts (GW) of energy, using natural gas.

The transformation of a sleeping giant

With a history marked by ups and downs, corruption and stoppages, Comperj — now Polo GasLub — is finally approaching its Rebirth.

And although the original project has been drastically scaled back, the new version of the venture still promises to make a major impact on the gas and energy market in Brazil.

The question remains: with so many obstacles in the way, will Polo GasLub be able to reach its full potential or will it just be another unfulfilled promise?

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Alisson Ficher

Journalist graduated in 2017 and working in the field since 2015, with six years of experience in print magazines and over 12 thousand online publications. Specialist in politics, jobs, economics, courses, among other topics. If you have any questions, want to report an error or suggest a topic on the topics covered on the site, please contact us by email: alisson.hficher@outlook.com. We do not accept resumes!

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