pipeline

TAG pipeline sale blocked in Brazil

RIO DE JANEIRO, June 6, 2018 – A federal court has issued an injunction barring state-owned Petrobras from selling pipeline operator Transportadora Associada de Gás (TAG) in Brazil, international media reported on Wednesday.

 

The injunction was granted in the state of Pernambuco at the request of oil workers unions arguing that the TAG pipeline would be sold in a process that is not adequately competitive. The NOC has appealed the order.

TAG is expected to be sold for USD 7 billion-8 billion. Petrobras has been in sales negotiations with pipeline operator Engie since May.

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