Petrobras Is Forced to Exit the Brazil-Bolivia Gas Pipeline

Written by Paulo Nogueira

Published on 08/07/2019 at 14:46

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The Agreement Should Lead to a Reduction of Brazilian Gas Imports by At Least 10 Million m3 Per Day.

The Agreement Between Petrobras and Cade (Administrative Council for Economic Defense), Which Will Be Evaluated by the Board on July 8, Requires the State-Owned Company to Sell Its Stake in Gas Transportation and Distribution Companies and to Divest from the Brazil-Bolivia Pipeline.

If the State-Owned Company is Interested in Making the Purchase, as a Consumer After Exiting Control of the Pipeline, Petrobras May Retain Up to 50% of the Available Gas.

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The Draft Agreement Also Requires Petrobras to Sell Its Remaining 10% Stake in NTS (Nova Transportadora do Sudeste) and TAG (Transportadora Associada de Gás), in Addition to Divesting Its Stake in State Distributors.

The Agreement Between the Oil Company and Cade Is the Reason for the Gas Market Opening Process. The Government Estimates That This Deal Will Attract Investments of Up to R$ 32.8 Billion in New Pipelines and Terminals by 2032 and Reduce Prices by Up to 40% to Stimulate Industry and Boost Economic Growth.

According to Paulo Guedes, Minister of Economy, the Expectation Is That This Plan Will Also Generate R$ 2 Billion in Royalty Revenues and R$ 5.3 Billion in ICMS Per Year in the States of Rio de Janeiro, São Paulo, Espírito Santo, and Sergipe.

The Purchase and Sale Contracts Must Be Signed by the End of 2020. Regarding the Pipeline, Petrobras Will Have to Define the Price in Conjunction with ANP (National Petroleum Agency) by March of That Year.

The Conclusion of the Process to Sell All Assets Should Occur by the End of 2021, Which Might Be Extended by One More Year if the State-Owned Company Requests and Cade Approves.

The Brazil-Bolivia Pipeline Is the Main Gas Transportation Channel in the Country. It Crosses Mato Grosso do Sul, São Paulo, Paraná, Santa Catarina, and Rio Grande do Sul, Passing Through 136 Cities.

Through It, 30 Million m3 of Gas Pass Daily, Delivered to Seven Local Distributors. The Pipeline Also Supplies Thermoelectric Plants and Refineries Directly Along Its Route.

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