Natural Gas

Petrobras will reduce the price of natural gas by 11.1% per m³ as of February 1st

T&B Petroleum/Petrobras Agency
10/01/2023 15:10
Petrobras will reduce the price of natural gas by 11.1% per m³ as of February 1st Imagem: Divulgation Visualizações: 2233 (0) (0) (0) (0)

As of 02/01/23, according to the contracts agreed by Petrobras with the distributors, the updated natural gas sales prices - transported and distributed through pipelines - will have an average reduction of 11.1% in R$/m³, in relation to to the November-December-January quarter. Such contracts provide for quarterly updates and link the variation in the price of gas to fluctuations in Brent oil and the exchange rate. During this period, oil fell by 11.9%; and the exchange rate depreciated by 0.2% (that is, the amount in reais to convert into a dollar increased by 0.2%). There was also, as provided for in the contracts entered into at the end of 2021 and effective from 01/01/2022 to 12/31/2025, a reduction in the pricing formula from 16.75% of Brent to 14.40% of Brent.

Petrobras emphasizes that the final price of natural gas to the consumer is not determined only by the company's selling price, but also by the supply portfolio of each distributor, as well as by its margins (and, in the case of CNG, the resale stations ) and federal and state taxes. In addition, consumer tariffs are approved by state regulatory agencies, pursuant to specific laws and regulations. It is important to inform that the update announced for 02/01/23 does not refer to the price of LPG (cooking gas), packaged in cylinders or sold in bulk.

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