Supply contracts are extended to December 2021 and companies negotiate new terms
Comgás and Petrobras closed a legal dispute involving an amount of R $ 1 billion, related to commercial practices in the sale of natural gas. With that issue resolved, the two companies renewed their supply contracts to 2021 and are now negotiating new terms of commitment that extend the supply to the distributor for the period between 2022 and 2027.
The legal dispute between companies dragged on during this decade. With the friendly closure, Comgás will return to Petrobras approximately R $ 1 billion, an amount that had been withheld and provisioned by the distributor since 2014. In contrast, the two existing contracts with an expiration scheduled for June and December of the next year were extended until December of 2021.
Regarding the negotiations initiated for the supply of natural gas for the period between 2022 and 2027, the São Paulo company informed that the subject will still be sent for analysis to the São Paulo State Sanitation and Energy Regulatory Agency (Arsesp).
There was another legal dispute, which was also closed but did not involve issues related to the cost of gas. Comgas will be indemnified up to R $ 800 million. Comgás did not report what issues were involved in this dispute.
Source: Brazil Energy