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Sale Prices of Natural Gas to Distributors Fall in May 2020

Source: www.gulfoilandgas.com 5/8/2020, Location: South America

Petrobras reaffirms its commitment to the proposals for the new natural gas market and informs that the sale prices of the product (which include the molecule and transport parcels) to the distributors in the new contracts started in January had an average reduction of 36%, in US $ / MMBtu, in May 2020, compared to December 2019, considering the dollar exchange rate on the date of the last contract adjustment (April 30, 2020). If measured in R $ / m³, the prices charged by Petrobras to the distributors (including molecule and transport) in new contracts in 2020 accumulate an average reduction of 15%, despite the depreciation of the Real.

This drop is mainly due to the changes negotiated with the distributors for the new sales contracts, where the price of the gas molecule is linked to the variation of the oil price in the international market and is revised every three months. Consequently, the drop in oil prices in recent months has made it possible to reduce gas.

However, Petrobras clarifies that the price of the gas molecule and the cost of transportation are not the only determining factors in the price of natural gas to the final consumer, as well as the margins of the distributors, as well as the incorporation of federal and state taxes. It is important to highlight that the tariff approval process is carried out by each state regulatory agency, according to specific legislation and regulation.

Petrobras remains committed to the process of opening the natural gas market. The company has worked to accelerate the stages of this process, in the search for the development of an open, competitive and sustainable market.

Finally, Petrobras informs that the sales contracts for the distributors are public and are available on the website of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), for consultation.

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