Brazil passes natural gas law to attract investors, cut red tape
Brazil's lower house approved a new regulatory framework for the natural gas sector, a move the government hopes will increase competition in the industry.
The bill, which garnered support from industrial consumers, will now be signed into law by President Jair Bolsonaro.
"In this difficult moment, this approval bodes well for the economy," said Paulo Pedrosa, president of Abrace, an industry group of large energy users.
He said the new law would help attract new investments to the sector and increase predictability.
Under the bill, companies interested in building gas pipelines will need a simple authorization rather than a more complex concession contract. Energy regulator ANP will have more power to foster competition and reduce market concentration.
The new law allows power companies to distribute gas for industrial use, an area that used to be under state monopoly.
(Reporting by Luciano Costa; Writing by Ana Mano; Editing by Edmund Blair)
- Freeport LNG export plant in Texas reports shutdown of liquefaction train
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- Five energy market trends to track in 2026, the year of the glut
- RWE strengthens partnerships with ADNOC and Masdar to enhance energy security in Germany and Europe
- Venture Global wins LNG arbitration case brought by Spain's Repsol
Comments