With the change, the Petrobras regasifier vessel, in Bahia, will be directed to the Pecém Terminal, in Ceará

Last Saturday (4/12), Petrobras informed the market that it transferred the operation of the Liquefied Natural Gas Regasification Terminal in Bahia (TR-BA) to the company Excelerate Energy Comercializadora de Gás Natural, winner of the tender for leasing the asset.

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The signature of the Term of Receipt provided for in the contract was carried out after the approval of the transaction by the Administrative Council for Economic Defense (Cade).

With the support of Petrobras, Excelerate obtained the necessary licenses and authorizations, also complying with the existing conditions precedent in the lease agreement for the operation of the terminal. The regasifier vessel is already positioned in the TR-BA and, with the transfer of the operation, Excelerate has the possibility of making natural gas available to the market.

The initiative was foreseen in the Term of Cessation Commitment signed with Cade to build a favorable environment for the entry of new investors in the sector.

The docking of the Excelerate vessel will also allow the transfer of the regasification vessel Golar Winter, at the service of Petrobras, to the LNG regasification terminal in Pecém, located in Ceará, becoming able to operate the three terminals connected to the integrated gas transport network native to the country (Guanabara Bay, Pecém and Bahia).

Milestones of the Opening of the Gas Market in Brazil and Petrobras

The world is undergoing a process of profound transformation – with an impact on all sectors of society and the economy. With Petrobras, it is no different: the state-owned company is undergoing major changes that converge to an increasingly open and competitive energy market. In this movement, its business strategies reflect this effort of adaptation and transformation.

To secure the future and continue investing, the oil company needs to be a financially healthy, stronger, more efficient and more competitive company. The Brazilian oil company wants to be a high-performance company, focused on oil and gas, in line with its commitment to greater value generation and resource allocation, with an emphasis on Exploration and Production activities in deep and ultra-deep waters.

With regard to the natural gas market, the strategy consists of acting competitively in the sale of own gas and optimizing the thermoelectric portfolio with a focus on self-consumption.

Understand what the New Gas Market is

With the New Gas Law, which establishes a regulatory framework for the natural gas sector, Brazil is facing a great opportunity to boost the energy sector. The ongoing changes to open up the gas market reconcile the interests of society and the various agents in the value chain, in addition to consolidating efforts to create an institutional model in line with the best international practices.

Petrobras' strategy is focused on operating competitively in the sale of its own gas and on optimizing the thermoelectric portfolio, with a focus on self-consumption.

With these actions, the company seeks to reconcile the interests of society, consolidating efforts to create a model aligned with the best international practices in which we encourage the development of an open, competitive and sustainable gas market in Brazil.

The process of opening up the Brazilian natural gas market has been taking place at an accelerated pace in recent years.