Engie Brazil Wants to Buy Remaining Stake in TAG — CEO
12/3/2019
RIO DE JANEIRO (Reuters) — The Chief Executive Officer of Engie’s Brazilian subsidiary said the French company group wants to acquire the 10% stake still owned by state-controlled oil company Petrobras SA in the natural gas pipeline company TAG.
Mauricio Bahr told reporters in Rio de Janeiro the TAG investors group led by Engie will enter in talks to acquire the stake in the first half of 2020, as stated by the contract with Petroleo Brasileiro SA.
Bahr said Engie has the right to acquire between 6.5% to 7% of the 10% stake still owned in TAG by Petrobras. Engie and Canadian investment fund Caisse de Depot and Placement du Quebec (CDPQ) acquired TAG for $8.6 billion last April.
Related News
Related News
Sign up to Receive Our Newsletter
- Case Study: Starling Pipe-in-Pipe Project Copes with Stresses of S-Lay Pipelaying
- Enterprise Abandons Texas Pipeline Project as Oil Prices Remain Weak
- 2020 Midyear International Outlook: Pipeline Construction & Market Trends
- Gas Pipeline Explodes Near Oklahoma City
- TC Energy Announces $400 Million ANR Pipeline Enhancement Project
- Case Study: Starling Pipe-in-Pipe Project Copes with Stresses of S-Lay Pipelaying
- Gas Pipeline Explodes Near Oklahoma City
- Norway to Spend $1.8 Billion on World's First Full-Scale CCS Chain
- Federal Judge Allows North Dakota to Pursue Protest Reimbursements
- Argentina Pitches Pipeline to Brazil for Vaca Muerta Shale Gas
Pipeline Project Spotlight
Owner:
Gaz-System, Energinet
Project:
Baltic Pipe
Type:
Baltic Pipe will transport Norwegian natural gas from the Norwegian North Sea via Denmark to Poland.
Length:
560 miles (900 km)
Capacity:
110 Bcf per annum
Start:
Q2 2020
Completion:
Q4 2022
Comments