Brazil gas market turmoil seen easing in 2022

Brazil gas market turmoil seen easing in 2022

Sao Paulo, 20 January (Argus) — Brazil's recently opened natural gas market will create solutions to avoid higher-than-expected prices within six months, according to the author of the country's new gas law in the lower house.

Four gas distribution companies have sought and received favorable court rulings requiring state-run oil and gas company Petrobras to maintain 2021 gas prices in their states, including in Sergipe where congressman Laercio Oliveira (PP party) resides.

"I believe that by the end of 2022 we will have a calmer scenario, and that we can see competition between agents and competition from domestic gas offered in greater quantities, Bolivian gas and LNG, with entry through several terminals," Oliveira told Argus.