Petrobras signs new amendment with YPFB for gas supply

Petrobras has entered into a new amendment to its natural gas supply agreement (GSA) with Yacimientos Petrolíferos Fiscales (YPFB).

The amendment will allow YPFB to reduce supplies to Petrobras via the Bolivia-Brazil gas pipeline from 30.08mn cm/d to 20mn cm/d, allowing the surplus volume of natural gas to be traded directly by YPFB with other market agents in Brazil. It is hoped that this will help open up the Brazilian natural gas market, stimulating competition by encouraging new agents to enter the market.