Page 12 - LatAmOil Week 11 2022

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EIG Global Energy Partners offers

to buy 51% of TBG gas pipeline

BRAZIL’S national oil company Petrobras the pipeline operator.
revealed on March 15 that it had received an Gasbol was built to pump gas from Bolivia to
offer from US-based EIG Global Energy Part- Brazil at the rate of up to 30mn cubic metres per
ners for a majority stake in Transportadora day. It has been operating below design capacity
Brasileira Gasoduto Bolivia-Brasil (TBG), the for some time.
operator of a natural gas pipeline linking Bolivia Petrobras recently began allowing private-
and Brazil. ly-owned Brazilian companies to negotiate gas
Reuters had reported on March 14 that the supply deals directly with YPFB, Bolivia’s NOC.
parties were close to striking a deal, and state- Tradener was the first to take advantage of this
owned Petrobras then confirmed the next day change and will import the maximum amount
that they were in agreement. It described EIG’s allowed, 2.2 mcm per day, under a recently
offer for its 51% stake in TBG as binding but did announced deal. ™
not say whether the news agency had been cor-
rect in stating the value of the bid at more than
$500mn.
The acceptance of this offer “will depend on
the necessary corporate approvals” before Petro-
bras can start negotiations, Petrobras said.
The NOC went on to say that the sale would
include its 25% holding in Transportadora Sul-
brasileira de Gas (TSB), as well as its 51% stake
in TBG. The former company is the operator of
a separate gas pipeline in Brazil’s far southern
regions.
EIG had previously held a minority stake in
TBG, which operates the Brazilian section of the
Bolivia-Brazil gas pipeline, known as Gasbol.
However, it sold the 27.5% stake to Fluxys Bel-
gium last year for an undisclosed price in order
to avoid finding itself in a regulatory conflict that
would have prevented it from seeking control of EIG Global Energy Partners is seeking to buy a 51% stake in TBG (Image: TBG)

ECUADOR
Petroecuador’s oil trading manager says

US buyers are eyeing Ecuadorean crude

A representative of Ecuador’s national oil com- holding meetings in Louisiana this week with
pany (NOC) Petroecuador told Bloomberg on representatives of these and other companies,
March 16 that the US decision to halt imports of he said in an interview with Bloomberg.
Russian crude had generated interest in Ecuado- He described these firms’ outreach to Petro-
rean feedstock among US refiners and traders. ecuador as a direct response to the removal
Pablo Noboa, Petroecuador’s oil trading of Russian supplies from the US market. “US
manager, reported that refiners Valero Energy refiners and traders are eager to sign mid- and
and Marathon Petroleum, as well as Shell West- long-term supply contracts after Russia invaded
ern Supply and Trading, a trading unit of Shell Ukraine,” he told the news agency. “When oil in
(UK), had all been seeking to buy crude from the global market is scarce, it makes sense to try
Ecuador. Teams from the NOC have been to secure a steady supply.”

P12 www. NEWSBASE .com Week 11 17•March•2022