Petrobras Opens Brazilian Natural Gas Market

March 9, 2020 | Oil & Gas | Energy Facts Staff Writer | 3min

Petrobras reports that, in continuity with the statement released on December 30, 2019, it entered into a new amendment to the natural gas supply contract (GSA) with Yacimientos Petrolíferos Fiscales (YPFB).

The signed additive refers to the volume of gas contracted in 1999, at the start of the operation of the Bolivia-Brazil gas pipeline, and which has not yet been withdrawn by Petrobras.

This additive will provide for the reduction of the YPFB supply obligation to Petrobras from the current volume from 30.08 MM m³ / day to 20 MM m³ / day, allowing the surplus volume of natural gas to be traded directly by YPFB with other agents the market in Brazil. With this, the company concludes another stage of the Term of Cessation of Conduct (TCC) signed with CADE.

The signing of this addendum confirms Petrobras’ commitment to opening the Brazilian natural gas market, stimulating its competition by encouraging the entry of new agents.