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LatinNews Regional Monitor: Brazil & Southern Cone - 25 June 2019

In brief: Brazil

* Brazil’s national council on energy policy (CNPE) has presented guidelines for the liberalisation of the natural gas market, currently dominated by the state-owned oil company Petrobras. The CNPE hopes to open the natural gas supply chain to new actors through widening access to existing infrastructure such as pipelines and processing units. Economy Minister Paulo Guedes has said that a plan to break Petrobras’ monopoly over the production and distribution of natural gas in Brazil could push energy prices down by as much as 40% in two years, which would in turn spur the industrial sector’s GDP to grow 8.4%. The CNPE’s guidelines must still be approved by President Jair Bolsonaro.