Brazil & Southern Cone - July 2019

Petrobras to give up natural gas market monopoly: On 8 July, Brazil’s anti-trust regulator Cade reached a cease and desist agreement (TCC) with state-owned oil company Petrobras over the former’s investigation into the latter’s alleged anticompetitive behaviour in Brazil’s natural gas market. As per the terms of the agreement, Petrobras has until 31 December 2021 to divest its assets in Brazil’s gas transportation companies and distributing companies. Cade expects this to stimulate competition in the natural gas market, currently almost exclusively dominated by Petrobras, and attract national and international investment. Earlier in June, Brazil’s national council on energy policy (CNPE) had presented guidelines for the liberalisation of the natural gas market, with the aim of opening natural gas supply chains to new actors through widening access to existing infrastructure such as pipelines and processing units.

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