Petrobras Rejects Gas Release as Path to Boost Market Competitiveness

Petrobras' Exploration and Production Director, Sylvia Anjos, emphasized that increasing market competitiveness in Brazil's natural gas sector relies on expanding supply rather than regulatory measures like gas release. Speaking at Sergipe Oil & Gas, she noted that Petrobras' share of the market has decreased from 100% to 56% over the past five years due to deconcentration.

This shift has led to a more open market with 31 agents trading gas in Brazil, including Petrobras and third-party companies. The executive pointed out that gas release is not necessary given this level of market openness, which surpasses European countries.

Anjos argued that expanding national production is the most efficient way to make natural gas competitive. She also warned that investing in offshore gas production without assurance of commercialization is unjustifiable.