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Petrobras Signs Agreement with YPFB

Source: www.gulfoilandgas.com 12/30/2019, Location: South America

Petrobras, in continuation of the market announcement issued by the company about the Transition Agreement signed under the natural gas supply agreement (GSA) with Yacimientos Petroliferos Fiscales Bolivianos (YPFB), informs that the Transition Agreement disclosed establishes the basis for the renegotiation of commercial conditions related to the acquisition of natural gas by Petrobras.

Based on current GSA terms, Petrobras has the right to request a volume of 30.08 million m / d. One aspect that is being renegotiated between the parties involves the expectation of reducing this volume commitment to 20 million m / d, allowing the surplus to be traded directly by YPFB to other agents in the Brazilian market. The contracted volume, as well as other commercial aspects should be redefined until 03/10/2020, when the Transition Agreement is terminated.

Petrobras reaffirms its commitment to the opening of the natural gas market, encouraging the entry of new agents.

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