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)

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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.

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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.

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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

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Petrobras Divestment in the Natural Gas Sector

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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

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Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

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