Brazil Hopes to Attract Natural Gas Investors with New Law
SAO PAULO (Reuters) — Brazil's lower house approved a new regulatory framework for the natural gas sector in the early hours of Wednesday, a move the government hopes will increase competition in the industry.
The bill, which garnered support from industrial consumers, will now be signed into law by President Jair Bolsonaro.
"In this difficult moment, this approval bodes well for the economy," said Paulo Pedrosa, president of Abrace, an industry group of large energy users.
He said the new law would help attract new investments to the sector and increase predictability.
Under the bill, companies interested in building gas pipelines will need a simple authorization rather than a more complex concession contract. Energy regulator ANP will have more power to foster competition and reduce market concentration.
The new law allows power companies to distribute gas for industrial use, an area that used to be under state monopoly.
Related News
Related News

- PG&E Reduces Emissions from Gas Pipelines by More Than 20%
- Trans Mountain Pipeline Expansion Project to Nearly Triple Current Capacity to 890,000 bpd
- Spain's Tecnicas Reunidas, FCC to Build LNG Terminal Worth $1.1 Billion in Germany
- Canada Offers $26 Billion Green Tax Credits But Still Trails Behind US Incentives
- Pipeline Operator TC Energy Says Keystone Oil Spill Caused by Fatigue Crack
- Pipeline Operator TC Energy Says Keystone Oil Spill Caused by Fatigue Crack
- Permian In Spotlight as Energy Dealmaking Gathers Steam
- Trans Mountain Pipeline Expansion Project to Nearly Triple Current Capacity to 890,000 bpd
- Colombia's Cano Limon-Covenas Pipeline Attacked for Ninth Time in 2023
- Chad Nationalizes Exxon’s 621-Mile Pipeline as Dispute Over Asset Sale Escalates
Comments