The Brazilian Institute of Oil and Gas (IBP) congratulates the Chamber of Deputies on the approval of the original text of Bill 4476/2020 (New Gas Law), reinforcing the decision already taken by the House in September last year. The IBP believes that the new law will bring benefits to the entire oil and gas chain, in addition to the Brazilian industry.

It is worth mentioning the work of Deputy Laércio Oliveira, who sought dialogue with all agents in the market to build consensus around a legal framework capable of guaranteeing the wide opening of this sector, the modernization of regulations, the necessary competition in the supply of gas natural and fundamental conditions for consumers to have freedom when choosing their supplier.

Only with these premises, ratified by the Chamber of Deputies, natural gas can be competitive and boost the country's economy, with new investments, job and income generation. For this reason, the Institute expects the President of the Republic to fully sanction the project.