Enbridge, Fluxys, EIG bid for Brazilian gas import pipe: press
A consortium of Canada's Enbridge, Belgium's Fluxys and US private equity firm EIG Global Energy Partners has submitted a non-binding offer for Brazil's biggest gas import pipeline, Reuters reported on May 21 citing sources. Fluxys is already a shareholder in the line following a January deal to buy EIG's minority stake.
State-owned Petrobras launched the sales process for its 51% stake in the 2,593-km Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG) pipeline, which pumps gas from Bolivia to Brazil, in December last year. Its transmission capacity is 30mn m3/day.
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The deadline for non-binding offers for the stake passed in late April, and Enbridge, Fluxys and EIG are preparing to file a binding bid by a deadline of July 5, the Reuters sources said.
Petrobras is in the midst of a major divestment programme, aimed at reducing its debt, improving its margins and raising cash for deepwater oil projects. It has already sold several key gas infrastructure assets in recent years, including a 90% stake in NTS to Canada's Brookfield Asset Management and partners in 2017.
Two years later it sold a 90% interest in Brazil's largest gas pipeline company TAG for $8.6bn to France’s Engie and Canadian investment fund Caisse de Depot and Placement du Quebec (CDPQ). It divested the remaining 10% to the same investors last year.