Petrobras, Equinor seal agreements, align with Brazil’s gas law

In a significant stride towards diversifying Brazil’s natural gas market, Petrobras and Equinor have sealed agreements for the Integrated Natural Gas Flow System in the Campos Basin (SIE-BC) and the utilization of the Cabiunas Gas Treatment Unit (UTGCAB).

This collaboration will facilitate the transportation of natural gas from the Roncador field, a strategic asset partially owned by Equinor with a 25% stake, starting January 1, 2024, Caliber.Az reports.

Infrastructure Sharing: A New Dawn

The SIE-BC infrastructure, a network of maritime and onshore pipelines, is owned by Petrobras, which also operates the Roncador field and holds the lion’s share of 75%. The UTGCAB, positioned in Cabiunas, Rio de Janeiro, is another crucial asset in Petrobras’ portfolio.

These contracts mark a definitive step towards adherence to Brazil’s Gas Law, which champions the diversification of the natural gas market by facilitating negotiations for infrastructure access.

Replicating Success Across Regions

Petrobras’ engagement in infrastructure-sharing contracts is not a new phenomenon. The energy giant has already inked similar agreements in other regions such as the Santos Basin, the Catu Cluster in Bahia, and the Cacimbas Cluster in Espirito Santo.

The success of these agreements underlines the potential of this model to foster competition and diversity in the natural gas sector.

A Win-Win for Equinor and Petrobras

This collaboration between Petrobras and Equinor, a Norwegian multinational energy company, signifies a win-win situation for both entities. Equinor gets to transport its share of natural gas from the Roncador field, while Petrobras gets to monetize its infrastructure.

More importantly, this agreement underscores the growing trend of global energy giants pooling resources and capabilities to drive operational efficiencies and market competitiveness.