Petrobras Completes Sale of Stake in Gas Transportation Company to Engie Brazil and Canadian Fund CDPQ

Written by Kelly

Published on 21/07/2020 at 08:58

Updated on 21/07/2020 at 08:59

Gasodutos da Transportadora Associada de Gás (TAG)

Be the first to react!

Petrobras Concludes Sale Process of 10% Stake in TAG, Associated Gas Transporter S.A., to Engie/CDPQ Group

This Monday (07/20), Petrobras agreed to sell its remaining 10% stake in the gas pipeline company Associated Gas Transporter (TAG) to Engie Brazil and the Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ), according to Reuters.

Read Also

According to Engie, the transaction was valued at 1 billion reais (US$ 187.5 million), following the sale of US$ 8.6 billion last year by Petrobras of the other 90% of TAG to the same group.

In a statement, Petrobras informed that the agreement is aligned with its strategy of “portfolio optimization,” improving its capital allocation and maximizing value for shareholders.

ARTICLE CONTINUES BELOW

Petrobras Divestment in the Natural Gas Sector

Earlier this month in July, Petrobras initiated the binding phase of the sale process of its remaining 10% stake in the Southeast Transporter (NTS).

The company had started the sale process of the 10% stake in NTS at the end of March. In 2017, the state-owned company sold a 90% stake in the transporter for over 5 billion dollars.

The NTS is a natural gas transporter with pipelines in São Paulo, Minas Gerais, and Rio de Janeiro and connections to a number of facilities, including the Brazil-Bolivia pipeline and TAG, according to Petrobras. The transportation capacity is 158.2 million cubic meters per day.

Petrobras Completes Sale of Stake in Gas Transportation Company to Engie Brazil and Canadian Fund CDPQ

Petrobras Concludes Sale Process of 10% Stake in TAG, Associated Gas Transporter S.A., to Engie/CDPQ Group

Read Also

Petrobras Divestment in the Natural Gas Sector

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

How much would a Toyota Hilux cost without tax in Brazil? A diesel pickup truck priced at R$ 250,000 could drop to around R$ 127,000, showing why pickup trucks have become a luxury product in the country.

Windows without a prison-like appearance gain momentum in 2026 and promise to completely transform residential facades with more natural lighting, discreet security, increased property value, and a modern look without the burden of the old iron bars that dominated Brazilian homes for decades.

The largest precious metals mine under construction in the world is situated on a layer of ore 25 times thicker than common mines in South Africa, and has just connected a third shaft that will quintuple the extraction of platinum, palladium, and gold.

Neither human nor dinosaur: ancestral skeleton nearly 1,000 years old found on eroded road in Australia intrigues archaeologists by the way it was buried

Bolivia requests a plane from the Lula government to distribute humanitarian aid amid protests, roadblocks, fuel shortages, and food scarcity in cities like La Paz.

Petrobras Completes Sale of Stake in Gas Transportation Company to Engie Brazil and Canadian Fund CDPQ

Petrobras Concludes Sale Process of 10% Stake in TAG, Associated Gas Transporter S.A., to Engie/CDPQ Group

Read Also

Petrobras Divestment in the Natural Gas Sector

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

The largest precious metals mine under construction in the world is situated on a layer of ore 25 times thicker than common mines in South Africa, and has just connected a third shaft that will quintuple the extraction of platinum, palladium, and gold.

Scientists discover why gold remains unrusted for thousands of years and reveal atomic reorganization that reduces reaction with oxygen by up to 1 trillion times

A gigantic piece weighing 300 tons, equivalent to two Statues of Liberty, was hoisted almost 100 meters high in the interior of Mato Grosso do Sul to complete the largest recovery boiler in the world inside the R$ 23 billion megafactory of cellulose.

Magazine Luiza sells R$ 50 billion, but Havan profits better: Luciano Hang’s company reaches R$ 3.4 billion in profit and highlights the difference in Brazilian retail.

Brazil’s external debt rises to US$ 416.976 billion in April, says Central Bank, while investments in stocks see an inflow of nearly US$ 1 billion.

How much would a Toyota Hilux cost without tax in Brazil? A diesel pickup truck priced at R$ 250,000 could drop to around R$ 127,000, showing why pickup trucks have become a luxury product in the country.

Windows without a prison-like appearance gain momentum in 2026 and promise to completely transform residential facades with more natural lighting, discreet security, increased property value, and a modern look without the burden of the old iron bars that dominated Brazilian homes for decades.

The largest precious metals mine under construction in the world is situated on a layer of ore 25 times thicker than common mines in South Africa, and has just connected a third shaft that will quintuple the extraction of platinum, palladium, and gold.

Neither human nor dinosaur: ancestral skeleton nearly 1,000 years old found on eroded road in Australia intrigues archaeologists by the way it was buried

Bolivia requests a plane from the Lula government to distribute humanitarian aid amid protests, roadblocks, fuel shortages, and food scarcity in cities like La Paz.