Thursday, April 15, 2021

Bolsonaro sanctions law that changes rules of the natural gas market – Prime Time Zone

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Government expectation is to allow competition between supplier companies and price reduction for consumers

Mateus Bonomi / Agif / Estadão ContentsMinistry of Mines and Energy foresees investments in the order of R $ 74 billion and the generation of more than 33 thousand direct and indirect jobs in 10 years

The President of the Republic, Jair Bolsonaro, sanctioned this Thursday, 8, the new gas law. This is the new regulatory framework for the natural gas market in Brazil, which includes activities related to transportation, disposal, treatment, processing, underground storage, conditioning, liquefaction, regasification and commercialization. The expectation of federal government is to ensure an open and competitive market, allowing competition between suppliers and guaranteeing a price reduction for consumers.

O Ministry of Mines and Energy it foresees investments in the order of R $ 74 billion and the generation of more than 33 thousand direct and indirect jobs in 10 years. The new law also makes it clear that the construction and expansion of gas pipelines by the private sector will take place with the authorization of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Previously, it was necessary to win an auction, which generated greater delay, high costs and loss of attractiveness for private investments.

Also on Thursday, the National Council for Farm Policy (Confaz) approved adjustment of the National System of Economic Tax Information (Sinief), which unifies and simplifies tax rules related to the activity of processing natural gas. Such adjustment, according to the government, updates tax standards to the scenario of greater market competition proposed by the new gas law.

* With information from reporter Fernando Martins

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