Petrobras Refutes Market Domination Fears, Defends Purchasing Third-Party Gas Molecules
Petrobras CEO Magda Chambriard strongly disagrees with the National Petroleum, Natural Gas and Biofuels Agency’s (ANP) proposed gas release. According to her, the initiative could restrict the state-controlled company’s ability to purchase gas from other suppliers, which in turn could jeopardize the viability of major exploration projects, such as those for natural gas in the Sergipe-Alagoas Basin (Seap I) and Campos Basin (Raia).
Speaking at the ROG.e event in Rio de Janeiro, Chambriard emphasized that Petrobras’s acquisition of gas from partners is not intended to harm the market but rather to enable multi-billion dollar ventures. “We don’t buy gas behind anyone’s back; we buy gas when the seller is interested in selling,” stated the executive, contrasting the company’s actions with the perception that Petrobras could be a “bogeyman” about to “destroy the market.”
She cited the partnership with Colombian state-owned Ecopetrol as an example, where Petrobras’s guarantee to purchase gas was crucial for the business’s advancement. Chambriard reiterated that this practice is common and essential for the development of the oil and gas industry, allowing massive investments to materialize.
The Seap I project, located in the Sergipe-Alagoas Basin, encompasses the BM-SEAL-10 and BM-SEAL-11 concessions. Petrobras holds 100% of BM-SEAL-10, while in BM-SEAL-11, it operates with a 60% stake alongside IBV Brasil Petróleo LTDA. The Raia Project in the Campos Basin has Equinor as the operator (35%), sharing the venture with Repsol Sinopec Brasil (35%) and Petrobras (30%).
When contacted by reporters, Equinor highlighted the importance of ongoing discussions regarding the regulatory framework for Brazil’s natural gas market and expressed its willingness to contribute to a balanced scenario with new gas sources being introduced to the market.
The ANP’s public consultation on the gas release remains open until September 28, with a public hearing scheduled for October 21, marking a crucial moment for defining the sector’s rules.
