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Compagás CEO Highlights That Cost Reductions From The Agreement With Petrobras Will Make Natural Gas More Competitive For The Industry
Petrobras and Compagas recently announced the signing of new natural gas supply contracts, valued at approximately R$ 6.4 billion. These agreements were established as a result of a public call made by the Parana distributor in the first quarter and will be in effect from 2024 to 2034, according to Petronotícias.
Cost Reduction For The Industry
Rafael Lamastra Jr., CEO of Compagas, emphasized that the new contracts with Petrobras include a significant reduction, around 10%, in the cost of the gas molecule, set to take effect from January next year. This reduction will be reflected in the tariffs, making natural gas more competitive for users, especially in the industry. The executive stated, “With this reduction being passed on to the tariff, we will give greater competitiveness to natural gas for our users, especially in the industry”.
In addition to cost reduction, Compagas also negotiated with Petrobras contractual conditions that diversify the indexers used. With these new agreements, approximately 20% of Compagas’s supply portfolio will now be indexed to Henry Hub, a benchmark in the U.S. gas market.
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Lamastra explained, “Even being an innovative initiative, we saw this as an opportunity to reduce the volatility of contracts amid fluctuations caused by macroeconomic and political conditions”. The distributor added that the remaining part of its contract portfolio will continue to be indexed to Brent crude oil and the dollar.
Benefits For The Industry And Local Economy With Petrobras Contract
These new contracts represent an important step in making natural gas an even more attractive choice for the industry and other consumers in Curitiba and the surrounding area. With cost reductions and diversification of indexers, Compagas aims to provide stability and competitiveness in an ever-changing energy market.
The paranaense industry, which is essential for the local economy, will be able to benefit from these changes, increasing its efficiency and competitiveness. Furthermore, these agreements may have a positive impact on the state’s economy as a whole, as cost reductions can attract investments and boost economic growth.
Secure Energy Supply
Petrobras, as a reliable natural gas supplier, will continue to play a fundamental role in providing energy for the state of Paraná. These contracts reinforce the long-standing partnership between Petrobras and Compagas, ensuring a secure and efficient supply of natural gas for the region.
As the industrial and energy sectors evolve, this initiative highlights the importance of contractual adaptations and innovations to meet the needs of consumers and the ever-changing economy.
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