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The Measure Came Amid an Effort by the Federal Government to Open the Natural Gas Market – Currently Very Concentrated in Petrobras’s Activities
According to the Ministry of Infrastructure, in order to meet requests from the industry, the Federal Revenue Service included regasification vessels among the areas eligible for customs clearance, providing legal certainty for entrepreneurs wishing to import Liquefied Natural Gas (LNG). Sale of Petrobras’s Stake in CDGN Logistics is Approved by Cade.
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Regasification ships have received EXPRESS authorization to import LNG into Brazil and convert it to gas at the floating stations in Brazilian jurisdictional waters.
The ordinance was published yesterday, March 11. The previous rules did not provide explicit authorization for customs clearance, “which created legal uncertainty.”
The Minister of Infrastructure, Tarcísio Freitas, stated in a note that the measure brings new prospects for the Brazilian market.
“The regulation now clearly states that the stations can be cleared and can receive imported LNG for internalization in Brazil. Entrepreneurs were making billion-dollar investments without the legal certainty that they could invest,” Freitas said.
The measure came amid an effort by the federal government to open the natural gas market – now very concentrated in the activities of Petrobras – attracting private investments and competition, said lawyer Jeniffer Pires from Kincaid Mendes Vianna to Reuters.
“The entire sector had been seeking a change in the customs clearance ordinance for about two years… it did not support these vessels,” Pires said in a phone interview.
For her, the ordinance was an important step forward for the sector’s development. “There was a bottleneck, as these vessels arrived in the country and could not get customs clearance,” she said.
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