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Fiscal Oil Fields (YPFB) Will Reduce Natural Gas Delivery to Petrobras by 10 Million m³ per Day
A new amendment to the natural gas supply contract that the Brazilian state-owned company has with YPFB (Fiscal Oil Fields) of Bolivia was signed today (06) by Petrobras.
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In this new achievement, it was agreed that the obligation of natural gas supply by the Bolivian company to Petrobras will be reduced, decreasing from the current 30.08 million m³ per day to 20 million m³ per day.
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The agreement, signed in 1999, refers to the volume of natural gas contracted at the beginning of the operation of the Bolivia-Brazil gas pipeline (Gasbol), which has not yet been withdrawn by Petrobras. The volume of this fuel that will no longer be passed on to the Brazilian state-owned company may be freely marketed by YPFB with other market players in Brazil.
The decrease in the amount of gas received by the Brazilian company is part of the commitment to reduce its dominance in the national gas market. This measure also fulfills one of the terms outlined in the Conduct Term (TCC) signed by Petrobras with CADE (Administrative Council for Economic Defense).
According to the company, “The signing of this amendment reaffirms Petrobras’s commitment to opening up the Brazilian natural gas market, stimulating competition by encouraging the entry of new players.”
