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Petrobras in divestment mood ready to sell Northeast gas pipeline

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In 2016, Petrobras sold the Nova Transportadora do Sudeste (NTS) pipeline, which belonged to TAG (Transportadora Associada de Gás, controlled by Petrobras), to Brookfield for US $ 5.08 billion.

Petrobras is now putting up for sale 90 percent of Nova Transportadora do Nordeste (NTN) – also owned by TAG – which carries and stores natural gas in the North and Northeast of the country, with 3 thousand kilometers (1,864 miles ) of extension.

Petrobras expects that the sale of NTN will be in an approximate value to that of NTS, which would be an important advance in meeting the goals of Petrobras’ divestment program, which is US $ 21 billion in 2017 = 2018.

The IPO of BR Distribuidora, to be concluded next week, is also an important part of this plan.

There are at least four consortia interested in the operation, led by Patria Investimentos, Mubadala, Engie and Macquarie, a few days before the delivery of non-binding proposals for the acquisition of the TAG acquisition.