Brazilian energy major Petrobras has presented to the market a new contractual mode to market natural gas to local distributors, pursuant to which, volumes of natural gas will be offered in short-term agreements signed via electronic auctions.
According to the company, the first auction is scheduled for April 15, 2009. These trade agreements will involve volumes for consumption in up to two months, within the gas delivery availability limit, and at competitive prices compared to those of fuel oil.
Unlike the existing trade agreements, the new contractual modes will have shorter delivery terms and pre-defined durations. The amount charged for the natural gas will be set in highest bid auctions, according to Petrobras.
The volumes to be marketed in the auctions will not threat the supply to the thermoelectric market in the event the plants need to step-up electric energy generation when ordered to do so by the National Electric System Operator (NSO).
It said that state distributors with which Petrobras has long-term agreements can participate in these auctions. The volumes of natural gas foreseen by the existing agreements with the distributors and which are currently not being marketed by these companies to their final consumers will be offered.
The auctions will be held electronically through a virtual platform developed especially for this model of negotiation. The entire process can be audited and will be followed-up on by an independent auditor Petrobras will hire.
