Brazil - 02

Brazil: TAG Divestment Proposal Likely to Prevail Over Injunctions

Last week, Brazil’s Petrobras announced that it has begun a process to sell off 90% of TAG (Transportadora Associada de Gas). The company, operated by Transpetro (a Petrobras subsidiary), owns the largest network of gas pipelines in the country. Covering the northern, northeastern and southeastern regions, it accounts for roughly 47% of Brazil’s gas infrastructure. If the sale goes through, it would be the largest to date in Petrobras’s asset divestment program. For reference, NTS (Nova Transportadora do Sudeste) – a different network of gas pipelines covering the southeastern region, roughly half of TAG’s size – was sold to Canadian multinational firm Brookfield last year for $5.2bn.

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