Petrobras Receives Binding Offer for Bolivia-Brazil Gas Pipeline from EIG
(Reuters) — State-run Brazilian oil company Petrobras said on Tuesday it received a binding offer from EIG Global Energy Partners for the control of a natural gas pipeline that connects Bolivia and southern Brazil.
On Monday, Reuters reported EIG and Petrobras were close to reaching an agreement for its 51% stake of Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG) for more than $500 million. TBG operates the Brazilian section of the pipeline called Gasbol.
Petrobras has not confirmed the figure reported by Reuters and said the execution of the deal, which also includes its 25% stake in Transportadora Sulbrasileira de Gas (TSB) "will depend on the necessary corporate approvals," before starting the negotiation phase.
Gasbol can transport up to 30 million cubic meters per day (1.1 billion cubic feet per day) of natural gas from Bolivia to consumer markets in Brazil.
Last year, EIG sold a 27.5% stake in TBG to Fluxys Belgium NV for an undisclosed amount in order to remove a regulatory conflict that could have prevented it from bidding for control of the asset.
($1 = 5.1607 reais)
Related News
Related News
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- U.S. House Passes Bill to Reverse Biden's LNG Pause
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Evacuation Technologies to Reduce Methane Releases During Pigging
- U.S. Regulators Approve Mexico Pacific LNG's Saguaro Connector Pipeline
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Russian LNG Unfazed By U.S. Sanctions
Comments