Petrobras Closes Billion-Dollar Gas Supply Agreement With Comgás for the Next 10 Years

Written by Roberta Souza

Published on 13/07/2023 at 17:04

Imagem: Divulgação Comgás

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Long-Term Agreement Strengthens Petrobras’ Role in Gas Supply for State Markets

Petrobras announced a new agreement with the São Paulo Gas Company (Comgás) estimated at R$ 56 billion. The gas supply agreement will be valid from January 2024 to December 2034. This is another strategic partnership for Petrobras, which in recent weeks has already closed contracts with other natural gas distributors, such as Copergás and SCGás, totaling significant investments in the sector.

Petrobras to Invest Over R$ 25 Billion in Gas Supply in Coming Years

Jean Paul Prates, president of Petrobras, highlighted the company’s commitment to supplying the natural gas market in Brazilian states. Petrobras expects to invest over R$ 25 billion in its own projects in this area in the coming years. Additionally, the company is offering more flexible agreements, with different term options and indexers, allowing distributors to choose the portfolio best suited to their needs for serving various market segments.

Comgás Expands Investments and Reinforces Partnership with Petrobras to Migrate Customers to the Free Gas Market

Antônio Simões, CEO of Comgás, emphasized the importance of natural gas as a strategic energy source for the state of São Paulo and for Brazil. Comgás is continuously investing in solutions to expand access to this energy, connecting more people and businesses.

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Comgás’ investments exceed R$ 1 billion per year in the state, expanding the distribution gas pipeline network and attracting new customers. The new agreement with Petrobras renews a long-standing partnership between the two companies and brings improvements over current conditions, opening opportunities for the migration of customers to the free gas market, a step anticipated by the sector.

The agreement between Petrobras and Comgás underwent analysis and approval by the São Paulo State Public Services Regulatory Agency (Arsesp) and will be submitted to the National Petroleum Agency (ANP), following the regulatory process for the disclosure of natural gas purchase and sale agreements by local distributors. This strategic partnership reaffirms the commitment of both companies to ensure the safe, competitive, and sustainable supply of gas, driving economic growth in São Paulo and Brazil.

Petrobras Closes Billion-Dollar Gas Supply Agreement With Comgás for the Next 10 Years

Long-Term Agreement Strengthens Petrobras’ Role in Gas Supply for State Markets

Petrobras to Invest Over R$ 25 Billion in Gas Supply in Coming Years

Comgás Expands Investments and Reinforces Partnership with Petrobras to Migrate Customers to the Free Gas Market

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Petrobras Closes Billion-Dollar Gas Supply Agreement With Comgás for the Next 10 Years

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