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Equinor Brazil CEO says at Gas Week 2026 that 12% export tax has a direct impact on the viability of natural gas projects in the country
Equinor Brazil CEO, Veronica Coelho, warned this Monday, April 28, 2026, that the export tax on crude oil directly affects the economic viability of natural gas projects in Brazil — and not just oil projects, according to a report by Eixos.
The statement was made during Gas Week 2026, an event held in Brasília on April 28 and 29.
Tax burden reaches 27% of gross revenue
According to Coelho, when the 12% export tax is added to royalties and other taxes, the government takes up to 27% of a project’s gross revenue.
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“That’s a lot,” the executive said.
The impact is not limited to exported oil. Associated gas projects — where gas is extracted along with oil — are also affected, because the tax applies to the total revenue of the operation.
This increases the cost of investing in gas outflow and processing infrastructure.
Raia Project: US$ 9 billion and 50% completed
Equinor is the operator of the Raia Project (formerly BM-C-33), one of the largest natural gas projects under development in Brazil.
The total investment is US$ 9 billion, and the work is 50% completed.
Brazil is Equinor’s largest investment destination outside Norway.
For the company, tax predictability is essential to maintain the schedule and attract new investments to the gas sector.
Gas Week 2026 brings together key executives from the sector
Gas Week 2026 is the largest C-Level gathering in Brazil’s natural gas market.
The event brings together CEOs and executives from major operators, representatives from regulatory bodies such as ANP and ANEEL, as well as consultancies and investment banks.
Key topics include gas market regulation, biomethane, Latin American energy integration, and new commercialization models.
Coelho’s statement reinforces the debate on Brazil’s competitiveness as an investment destination in the gas sector, especially at a time when the country seeks to expand domestic supply to reduce dependence on LNG imports.
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