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Oil company Compass Gas e Energia wants to buy Petrobras' stake in Gaspetro

Written by Flavia Marinho
Published 27/10/2020 às 13:17
Petrobras - Gaspetro - Gas
Oil company Compass Gas e Energia wants to buy Petrobras' stake in Gaspetro

Consan intends to buy a 51% stake in Gaspetro. In addition to Petrobras, Gaspetro has the Japanese Mitsui as a shareholder, with a 49% stake.

After announcing a billionaire investment in São Paulo to take pre-salt gas to Baixada Santista, Cosan informed yesterday (26/10) that its subsidiary, Compass Gás e Energia, presented a proposal in the competitive divestment process promoted by Petrobras.

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The oil company intends to buy Petrobras' 51% stake in Gaspetro. In addition to Petrobras, Gaspetro has the Japanese Mitsui as a shareholder, with a 49% stake.

Petrobras began the process of selling its stake in Gaspetro at the end of February, having started the binding phase in July after being postponed in mid-March, when the oil company reopened the qualification phase for interested parties.

The completion of the potential transaction is subject to several factors, including the choice of Compass as the winner of the competitive process, the conclusion of the negotiations resulting from it and the execution of the respective Gaspetro purchase and sale agreement.

The Gaspetro holding company, which has interests in 19 gas distributors, was responsible for distributing 29 million cubic meters of the product daily in several states in 2019, according to Petrobras data.

Pre-salt gas pipelines will be connected to Baixada Santos by Compass Gás e Energia

A Cosan Group company, Compass Gás e Energia, will invest US$ 2 billion (R$ 11,15 billion) with strategic partners in gas pipelines in the Santos Basin through Rota 4 Participações.

The Rota 4 project is in the licensing phase and the expectation is that the gas pipeline will start operating between 2027 and 2028. It will take approximately four years to build the structures.

With the capacity to transport 21 million cubic meters of natural gas per day, Route 4 will increase the capacity for transporting and producing gas in the fields of pre-salt

Flavia Marinho

Flavia Marinho is a postgraduate engineer with extensive experience in the onshore and offshore shipbuilding industry. In recent years, she has dedicated herself to writing articles for news websites in the areas of industry, oil and gas, energy, shipbuilding, geopolitics, jobs and courses. Contact her for suggestions, job openings or advertising on our portal.

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