October 2011, Vol. 238 No. 10

Projects

Petrobras Acquires Gas Brasiliano Distribuidora For $271 million

Petrobras Gás S.A. (Gaspetro) completed acquisition of Gas Brasiliano Distribuidora (GBD), a natural gas distribution utility operating in the northwestern region of the state of São Paulo for $271 million. Previously, the utility was controlled by Italy’s ENI International B.V.

GBD holds an exclusive concession for gas distribution activities in the state of São Paulo, which encompasses 375 municipalities. It supplies the region’s industrial, commercial, residential and transportation needs. In 2010, the company’s distribution network added up to 755 km, and traded some 650,000 cubic meters of gas per day.