Shortly after being reelected, Governor Jerônimo Rodrigues authorizes the sale of a minority stake in Bahiagás to boost the expansion of the state’s energy infrastructure.
In a strategic move marking the beginning of his new term, the Governor of Bahia, Jerônimo Rodrigues (PT), has officially authorized private capital entry into Bahiagás. The decree, signed last Monday, enables the divestment of a minority portion of the state-owned piped gas distributor’s shares.
The decision reinforces the administration’s commitment to modernizing the region’s clean energy sector while maintaining state control. The Bahia government asserts that the company will continue to operate as a mixed-capital corporation, ensuring that public management remains at the helm of the firm’s strategic direction.
Focus on investment and network expansion
The measure is not a privatization, but rather a move to secure financial breathing room. Bahiagás has a robust investment plan for the 2026–2031 period, budgeted at R$ 1.86 billion. The central objective is to expand the pipeline network by 830 kilometers, bringing the total state infrastructure to 2,120 kilometers.
Regarding the guarantees and the future of the concession, the official text is definitive in maintaining current regulations. The decree ensures that there will be no changes to the concession term, which runs through 2041, nor any alterations to tariff criteria or the contractual obligations for universal service coverage regulated by Agerba.
The divestment will not result in any changes to the concession conditions, keeping the terms, remuneration criteria, and mandatory expansion targets for the company unchanged.
states the state decree.
Next steps and the role of Mitsui
The divestment process will follow a rigorous transparency procedure. Before any market offering, Mitsui, which holds a 41.5% stake in the company, will have its right of first refusal guaranteed. The partner will have a 30-day window after official notification to decide whether to acquire the shares offered by the State.
Should Mitsui choose not to exercise this right, the government will open the bidding process to other investors. To participate, interested companies must demonstrate solid financial capacity and proven expertise in natural gas, infrastructure, or related sectors within the energy industry.
With this move, the Jerônimo Rodrigues administration aims to ensure that Bahia remains an attractive hub for the energy sector, balancing public control with the agility and capital that the private sector can provide to deliver the infrastructure projects planned for the coming years.
