Petrobras acquires Brazilian gas distributor from ENI SPA

Petrobras Gás SA (Gaspetro) acquired Gas Brasiliano Distribuidora (GBD), a natural gas distribution utility, from Eni International BV for $271 million. GBD operates in the northwestern region of the state of Sao Paulo and holds exclusive natural gas distribution rights there.

The acquisition gives Petrobras a distribution position near the entry point of gas supplied by Bolivia and close to the gas reserves of southeastern Brazil, including the presalt area.

 Petrobras plans to expand the distribution network and to grow the company's sales to 1.2 million cu m/day by 2014. GBD's 30-year concession agreement began in December 1999, and may be extended for 20 years.

 Contact Eric Watkins at hippalus@yahoo.com

 

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