Published 2021-12-01
“…Hence, after summarizing discussions on the new reform of the gas sector in 2016 with Gas to Grow, the Brazilian government was able to take important steps with the New Gas Market Program: (i) the National Energy Policy Council issued relevant guidelines that were key for formation; (ii) Petrobras signed a
Cease-and-Desist Settlement Agreement (TCC) with the Administrative Council for the Economic Defense (Cade), aiming to reduce the company's market power; (iii) Petrobras has completed the sale of two important natural gas transportation companies; (iv) the New Gas Law was approved by the House of Representatives; (v) the Government Executive Power regulated this law in Decree; and (vi) the sectorial regulatory Agency has established a complete regulatory review agenda to implement the new legal framework and it is attentive to market changes. …”
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