Gasbol renegotiation may be affected by the crisis

The so-called “cheap energy shock”, quoted by the minister of the Economy, Paulo Guedes, should not happen in the coming months. That’s because after the departure of former Bolivian President Evo Morales, the lack of a government definite undermined the renegotiations of Petrobras import contracts with the Bolivian state-owned Company YPFB, through the Brazil-Bolivia gas pipeline, called the Gasbol.

Moreover, the need for the consolidation of a new government for the closing of the contract is of utmost importance, because the renegotiation import of Bolivian gas would be petrobras’ first test for the agreement he made with Cade (Administrative Council for Economic Defense) of reduce their share of the gas market, which would allow the entry of other private actors in the sector and the reduction in price.

Finally, the import agreement signed in 1999, of approximately 30 million cubic meters per day of natural gas expires on December 31 this year. According to sources, the negotiation had already been facing difficulties in the months due to elections in Bolivia. As a end, the crisis in Bolivia promises to delay for some time the Brazilian government’s plans to increase the competition in the natural gas sector.

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