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Company Sold by Petrobras in 2017 Prepares to Have More Than Just Petrobras as a Client with the Opening of the Gas Market Promoted by the Federal Government
The president of Nova Transportadora do Sudeste (NTS), Wong Loon, stated last Tuesday (07/30) that the company plans to invest 900 million reais in the next five years due to the implementation of the new gas market in the country.
The company is preparing for future expansion of the network and attracting new clients beyond Petrobras, today NTS is responsible for a network of over 2000 kilometers of gas pipelines that connect the states of Rio de Janeiro, Minas Gerais, and São Paulo (responsible for 50% of gas consumption in Brazil) to the Brazil-Bolivia pipeline, LNG terminals, and gas processing plants.
NTS’s pipelines connect Brazil’s most industrialized region and distribute 158.2 million m³ of gas per day, and its control was sold by Petrobras for over 5 billion dollars to Brookfield in April 2017.
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The Brazilian oil company remains the only client of the pipeline and according to Wong Loon, this is not ideal for the company. “Today we have a ‘single client’ and we need to work with multiple clients. It seems simple, but even the software is not prepared for this,” declared the president.
Still, NTS has already invested 180 million reais, primarily in safety and measurement issues, according to the executive, but for other investments, such as in the network of gas pipelines, he stated there are no plans, at least until demand exists, which he believes will happen by 2023.
The Government’s Plans
According to government plans, there is a forecast for Petrobras’s complete exit from the transportation and distribution sectors and the entry of new private investments.
The president of NTS also stated that the company’s partners want to buy the 10% of shares still held by Petrobras, which has already indicated its intention to sell, but discussions have not yet begun.
It is worth noting that TAG (Transportadora Associada de Gás) was sold by Petrobras to a group led by the French Engie for 33.5 billion reais.
TAG, like NTS, also wants to invest in the expansion of the network of pipelines but is also waiting for the opening of the market, as it shares the same concern as NTS due to the companies having a single client.
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