Petrobras Enters Binding Phase in Sale of 10% Stake in NTS Gas Pipeline
7/3/2020
Brazil's state oil firm Petrobras has begun the binding phase in the sale process of its 10% remaining stake in gas pipeline firm Nova Transportadora do Sudeste SA (NTS), it said in a securities filing on Friday.
"Potential buyers classified for this phase will receive an invitation letter with detailed instructions on the divestment process," the company said.
Petroleo Brasileiro SA, as the firm is formally known, said the transaction is in line with its strategy to streamline its portfolio and better allocate capital.
In 2016, a group led by Canada's Brookfield Asset Management Inc purchased 90% of NTS from Petrobras for $5.2 billion
Related News
Related News
Sign up to Receive Our Newsletter
![](/media/2035/pgj-enews-graphic-300x1404.jpg)
- Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
- Freeport LNG Sues Three Contractors Over Defects at Texas Plant
- Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition
- FERC Approves Transco's Texas to Louisiana Gas Pipeline Project
- Williams Says Court Rules in Its Favor in Pipeline Dispute with Energy Transfer
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
Comments