Petrobras signs new amendment with YPFB for gas supply

March 6, 2020 –

Petróleo Brasileiro S.A. – Petrobras, following the press release disclosed on
December 30, 2019, reports that it has entered into a new amendmentto the natural gas supply agreement (GSA) with Yacimientos Petrolíferos Fiscales (YPFB).

The amendment signed today refers to the volume of gas contracted in 1999, at the beginning of the Bolivia-Brazil gas pipeline operation, and which has not yet been withdrawn by Petrobras.

This amendment provides for the reduction of the YPFB supply obligation to Petrobras from the current volume of 30.08 million m³/day to 20 million m³/day, allowing the surplus volume of natural gas to be traded directly by YPFB with other market agents in Brazil. Therefore, the company completes another stage of the agreement signed with CADE.

The execution of this amendment reaffirms Petrobras’ commitment to the opening of the Brazilian natural gas market, stimulating its competition by encouraging new agents to enter the market.