Natural Gas Market Opening Will Attract Investments in Petrochemicals

Written by Renato Oliveira

Published on 28/05/2019 at 01:00

Updated on 27/05/2019 at 19:50

Petroquímicas podem se beneficiar com abertura do mercado de gás

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The Chemical Industry Should Ride the Wave of Natural Gas Market Opening, as It Is the Largest Consumer for Energy Purposes in the Country

The opening of the gas market should lead to projects that have been stalled for years being put into action and, even better, attract new investments in the Petrochemical sector, as the sector has not seen such a favorable environment in at least ten years.
The reason for the optimism stems from the federal government’s announcement to publish measures for the opening of the natural gas market in June.

The petrochemical sector views the opening as a significant advance, and this is only possible due to the consistent reasoning from the Ministry of Mines and Energy and the Ministry of Economy.

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In the coming weeks, the CNPE (National Energy Policy Council) is expected to begin taking concrete measures, such as the release of infrastructure sharing, for example, the shared use of pipelines and terminals of Petrobras, as well as preventing cartelization in the sector, as the company buys natural gas from large distributors and sells it at a much higher price.

Another measure that should be taken, according to the Executive President of the Brazilian Chemical Industry Association (Abiquim), Fernando Figueiredo, is to conduct auctions similar to those in the electricity sector.
Figueiredo also emphasized that by doubling the natural gas supply by 2024, prices would range between US$ 3.50 and US$ 5 per million BTU, and the government has already confirmed this with the ministries.

Perfect Environment

According to the president of Abiquim, the opening of the market along with other actions such as the reforms planned by the new government will create the perfect environment for the resumption of investments.
He even stated that Brazil could have two more petrochemical hubs if there is an increase in the supply of natural gas.

The projected investments for this year, according to the Association, are US$ 600 million, US$ 400 million in 2020 and 2021, and a decrease to US$ 200 million in 2022.
These figures are still somewhat modest compared to 2012 when investments reached US$ 4.8 billion in a single year.

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Natural Gas Market Opening Will Attract Investments in Petrochemicals

The Chemical Industry Should Ride the Wave of Natural Gas Market Opening, as It Is the Largest Consumer for Energy Purposes in the Country

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Perfect Environment

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