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Rio Reaches Deal With Petrobras and Naturgy to Cut Natural Gas Prices

Final prices hinge on regulatory validation of Naturgy’s calculations.

Overview

  • A contract addendum that Agenersa homologated Thursday sets the legal basis for price cuts across vehicle, residential, and industrial gas in Rio.
  • The government projects reductions of about 6.5% for vehicle natural gas, 6% for industrial supply, and 2.5% for residential service.
  • Naturgy will compute the exact tariffs and submit them to Agenersa for approval, with new rates taking effect only after publication in the state’s Official Gazette.
  • About 1.5 million drivers who use vehicle natural gas could see lower fill-up costs, as the measure targets a market that lost competitiveness and saw use fall by roughly 30%.
  • Rio is Brazil’s main vehicle-gas market and a leading gas producer, and Petrobras says higher domestic output—now around 50–52 million m³ per day—helps hold prices down, as April data showed GNV fell 1.24% while gasoline rose 1.86%.