Compass and TotalEnergies Sign Letter of Intent with YPFB for Natural Gas Purchase Following Cuts with Petrobras

Written by Ruth Rodrigues

Published on 30/05/2022 at 11:01

Updated on 30/05/2022 at 11:02

Foto: YPFB

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After The Bolivian Company YPFB Made Cuts To The Supply Of Natural Gas To Petrobras, Compass And TotalEnergies Approach The Fuel Supplier And Signed A Letter Of Intent For Future Commercialization Of The Product

Compass And TotalEnergies Signed A Letter Of Intent With Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) On Wednesday, (25/05), For Possible Commercialization Of Natural Gas. The Approach To The Bolivian Company Occurs Immediately After A Cut Made By The Company In The Supply Of Gas To The State-Owned Petrobras And Demonstrates A Brazilian Market Articulation In Search Of New Business With YPFB.

Commercialization Of Natural Gas With YPFB Is The New Focus Of Compass And TotalEnergies And Companies Sign Letter Of Intent For Future Business With The Bolivian

The Oil And Gas Scenario In Brazil Has Been Quite Unstable In Recent Days, Since YPFB Cut By 30%, Starting This Month, The Volume Of Gas Sent To Brazil For The State-Owned Petrobras, Aiming To Demonstrate Interest In The New Commitments Made With Argentina, Focusing On Exporting The Fuel To The Neighboring Country. And, With This Decision, Compass And TotalEnergies Are Mobilizing To Approach The Bolivian Company In Search Of Future Business Ventures In The Segment.

Thus, Amid The Misunderstandings Between YPFB And Petrobras In Recent Days, Compass And TotalEnergies Signed A Letter Of Intent To Negotiate The Commercialization Of Natural Gas With The Bolivian Company. The Parties Will Now Conduct Studies On Future Supply Projects Of The Fuel For The National Territory, Aiming For A Beneficial Contract For Both Companies.

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Therefore, The President Of YPFB, Armin Dorgathen, Commented On The Possible Business And Stated That “The Objective Is Clear, To Be Able To Accommodate Our Product In The Best Market And With The Best Price Possible. Bolivian Gas Is One Of The Most Competitive.”

After The Cut In The Supply Of Natural Gas To Petrobras, The Bolivian Company Is Now Charging Brazil For Renegotiation Of The Supply Contract Terms With The State Company And Claims That It Made The Supply Cut Because It Is Seeking New More Profitable Business Opportunities In Argentina. This Occurs Because The Last Review Of The Terms Had Happened Only In 2020 And With That, The Bolivian Company Sees A Lack Of Commitment From The Brazilian State Company, Which Now Needs To Review Its Terms To Maintain The Business.

With The Articulation Of The Companies, Bolivia Reinforces That Business With The National Private Companies Are More Advantageous For YPFB

Despite Not Mentioning The Letter Of Intent Signed By Compass And TotalEnergies With The Bolivian Company, The Minister Of The Country Stated That Private Companies, Unlike Petrobras, Are Willing To Pay Between US$ 15 And US$ 18 Per Million BTU, More Than Double What The State Company Pays For The Input.

Thus, YPFB Sees A Much More Advantageous Scenario For Signing Contracts With The Brazilian Private Market And Should Invest In This Segment During 2022.

In Addition, The Bolivian Company Highlighted That After Signing The Letter Of Intent For Future Supply Of Natural Gas, Compass And TotalEnergies Will Analyze The Economic And Commercial Conditions Of The National Market To Determine The Best Contract Structure So That The Natural Gas Reaches The Consumer At A Price Still Favorable For The Business With YPFB.

Finally, Compass Reinforced That The Cut In The Supply Of Natural Gas Will Not Impact The Company’s Projects In The National Territory And Emphasized That It Will Also Not Be A Very Strong Problem For Petrobras, Since The State Company Has Several Sources Of Fuel Supply.

Compass and TotalEnergies Sign Letter of Intent with YPFB for Natural Gas Purchase Following Cuts with Petrobras

After The Bolivian Company YPFB Made Cuts To The Supply Of Natural Gas To Petrobras, Compass And TotalEnergies Approach The Fuel Supplier And Signed A Letter Of Intent For Future Commercialization Of The Product

Commercialization Of Natural Gas With YPFB Is The New Focus Of Compass And TotalEnergies And Companies Sign Letter Of Intent For Future Business With The Bolivian

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

With The Articulation Of The Companies, Bolivia Reinforces That Business With The National Private Companies Are More Advantageous For YPFB

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Compass and TotalEnergies Sign Letter of Intent with YPFB for Natural Gas Purchase Following Cuts with Petrobras

After The Bolivian Company YPFB Made Cuts To The Supply Of Natural Gas To Petrobras, Compass And TotalEnergies Approach The Fuel Supplier And Signed A Letter Of Intent For Future Commercialization Of The Product

Commercialization Of Natural Gas With YPFB Is The New Focus Of Compass And TotalEnergies And Companies Sign Letter Of Intent For Future Business With The Bolivian

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