July 10, 2019 / 3:43 AM / in 7 days

Bolivia intends to buy Petrobras stake in gas pipeline to Brazil

FILE PHOTO: Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil December 5, 2018. REUTERS/Sergio Moraes/File Photo/File Photo

LA PAZ (Reuters) - Bolivia’s state-owned oil company YPFB plans to bid on a stake in a natural gas pipeline linking the country to Brazil to secure better terms for its gas sales there, the company said on Tuesday.

YPFB intends to bid on an unidentified portion of the 51% stake that Brazil’s state-owned energy company Petroleo Brasileiro SA owns in the Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG), which pipes Bolivian natural gas from the Bolivian-Brazilian border to Sao Paulo, the company said in a statement.

YPFB said that raising its current 12% stake in the pipeline would allow it to negotiate directly with natural gas distribution companies and private industry.

Petroleo Brasileiro, known as Petrobras, said on Monday that it would sell its stake in TBG as part of a deal with anti-trust regulator CADE to sell off a series of assets.

Petrobras said the deal would protect competitive conditions and encourage new participants in the natural gas market. But it was not yet clear how or when it would sell the assets.

Reporting By Daniel Ramos; writing By Mitra Taj; editing by Christian Schmollinger

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