© Reuters. A person walks in entrance of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro, Brazil March 9, 2020. REUTERS/Sergio Moraes
By Tatiana Bautzer and Gram Slattery
SAO PAULO/RIO DE JANEIRO (Reuters) – State-run Brazilian oil firm Petrobras is near reaching an settlement to promote to U.S. non-public fairness agency EIG Vitality Companions management of a pipeline that connects Bolivia and southern Brazil, three folks with information of the matter instructed Reuters.
Petroleo Brasileiro SA, as the corporate is formally identified, is predicted to obtain greater than $500 million for the 51% stake in TBG, added one of many sources, who requested anonymity to debate non-public negotiations. The bid may attain as much as $1 billion relying on particulars of the talks.
Below negotiation is Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG), which operates the Brazilian part of the pipeline, known as Gasbol.
The roughly 2,600 km (1,600 mile) pipeline system is the principle transportation community for pure fuel within the south of Brazil. It generated greater than 900 million reais ($180 million) of working revenue for its house owners within the first 9 months of final 12 months.
Gasbol can transport as much as 30 million cubic meters per day (1.1 billion cubic ft per day) of pure fuel from Bolivia to client markets in Brazil.
Petrobras declined to touch upon the talks. EIG didn’t instantly reply to a request for remark.
Final 12 months, EIG bought a 27.5% stake in TBG to Fluxys Belgium NV for an undisclosed quantity with a purpose to take away a regulatory battle that might have prevented it from bidding for management of the asset.
TBG would be the third fuel pipeline firm privatized lately in Brazil.
In 2016, Petrobras bought Nova Transportadora do Sudeste (NTS), which runs by southeastern states, for $5.2 billion to a consortium led by Canada’s Brookfield Asset Administration and Brazil’s Itausa SA .
In 2019, Petrobras bought pipeline firm TAG for $8.7 billion to France’s Engie and Canadian pension fund CDPQ.
($1 = 5.0939 reais)
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