JUN 18, 2020
Engie Brasil is celebrating the positive result it is seeing from the TAG gas pipeline network, acquired from Petrobras last year. As a result, the French company is evaluating the possibility of buying the 10% of the assets that are still in the hands of the state-owned company.
“The operation is better than we expected, especially due to the lower financing cost than we had planned. We also have the opportunity to buy 10% from Petrobras, which is in the process of being sold, ”said Engie CEO Eduardo Sattamini, during an online transmission organized by Banco Safra.
Petrobras put its 10% stake in TAG for sale at the end of last year. As a reminder, the consortium Engie and the Canadian fund CDPQ bought 90% of the gas pipeline network for R $ 33.5 billion in June 2019. TAG operates a gas pipeline system of approximately 4,500 km in length, located mainly in the North and Northeast regions of Brazil, with an installed capacity of 75 million cubic meters per day.