Following the new framework for the natural gas market liberalisation in Brazil, Galp, through its Petrogal Brasil and Galp Energia Brasil subsidiaries, has established a series of gas commercialisation contracts with a start date of January 1, 2022.
Galp has entered into an agreement with Companhia de Gás da Bahia (Bahiagás) to sell a part of its natural gas production from its portfolio to the north-eastern natural gas distributor. Bahiagás has committed to acquire at least 330 million cubic metres per annum of natural gas from Galp for 3 years.
Galp also secured the offtake of Repsol Sinopec’s natural gas production from Sapinhoá Norte, broadening the Company’s sourcing alternatives in the country.
Additionally, Galp signed agreements with Petrobras and Transportadora Associada de Gás to ensure access to the processing and transportation infrastructures, respectively.
These agreements represent a milestone in Galp’s strategy to develop its integrated gas portfolio in Brazil, diversifying outlets for its own natural gas production and increasing its sourcing alternatives to maximise value creation from both its Upstream operations and its Energy Management activities in this core region for the Group.