Natural gas prices for distributors will see an average reduction of 2% in R$/m3.

T&B Petroleum/Petrobras Agency
01/02/2024 12:20
Natural gas prices for distributors will see an average reduction of 2% in R$/m3. Imagem: Petrobras Agency Visualizações: 909 (0) (0) (0) (0)

Petrobras informs that, starting this Thursday, 02/01/24, in accordance with the contracts agreed upon by the Company with distributors, the selling prices of natural gas molecules will have an average reduction of 2% in R$/m³ compared to January 2024.

Contracts with distributors foresee quarterly updates of the price component related to the gas molecule and link this variation, up or down, to fluctuations in Brent crude oil and the R$/US$ exchange rate. For the quarter starting in February 2024, the oil reference fell by 3.6% and the exchange rate depreciated by 1.5% (meaning the amount in reais needed to convert into one dollar increased by 1.5%).

Furthermore, in January 2024, several new contracts came into effect stemming from Petrobras' new product portfolio and competitive processes of the Distributors. The portfolio brought the possibility of entering into contracts for various durations (5 years, 7 years, 9 years, and 11 years) and allowed Distributors to choose whether or not to include outbound transportation in the contracts. Thus, the market selected the best combination of products to meet its needs.

We remind that customers with contracts in force in 2023 experienced a cumulative reduction of 22.2% in the price of natural gas molecules throughout the year.

Petrobras emphasizes that the final price of natural gas to the consumer is not solely determined by the company's molecule selling price but also by the cost of transportation to the distributor, the supply portfolio of each distributor, as well as their margins (and, in the case of CNG - Compressed Natural Gas, of the reselling stations), and federal and state taxes.

Additionally, consumer tariffs are approved by state regulatory agencies, in accordance with specific legislation and regulations. The Company highlights that the update announced for 11/01/23 does not refer to the price of LPG (liquefied petroleum gas), bottled in cylinders or sold in bulk.

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