Petrobras to process gas for other E&P companies

Petrobras to process gas for other E&P companies

Sao Paulo, 28 December (Argus) — Brazilian state-run oil and gas company Petrobras signed contracts with Shell Brasil, Repsol Sinopec Brasil and Petrogal to allow for those companies to process their natural gas volumes at Petrobras' processing facilities.

The agreements with the exploration and production companies (E&P) consist of gas purchases and sales on swap operations. No further details on the agreements were disclosed.

These are the first contracts of this kind signed by Petrobras and allow the companies to start supply gas in Brazil's new market model beginning on 1 January. Petrobras said the agreements contribute to the natural gas market opening process.