Engie-CDPQ buy Petrobras’ gas pipeline business

Engie-CDPQ buy Petrobras' gas pipeline businessImage courtesy of Petrobras

Brazil’s state-controlled Petrobras said that France’s Engie, together with the Canadian investment fund Caisse de Depot and Placement du Quebec (CDPQ), have put in a R$ 35.1 billion offer for Transportadora Associada de Gás.

After adjustments, the transaction, when completed, will represent to Petrobras a total estimated value of $8.6 billion, Petrobras said in a statement.

This amount includes the payment by the buyer of TAG debts before BNDES ($800 million) on the transaction closing date.

Petrobras will continue to use TAG’s natural gas transportation services through the long-term contracts already in force between the two companies, without any impact on its operations and the delivery of gas to distributors and other customers.

The company noted that the transaction is still subject to approval by Petrobras governance and competitive defense bodies.

The subsequent phases will be disclosed to the market in accordance with the company’s Disinvestment Methodology.

Share this article

Follow LNG World News


<< Aug 2019 >>
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >