Brazil delays gas regulation updates further

Brazil's national oil and gas regulator ANP has delayed by as much as one year updates to a number of key rules and regulations for liberalizing the country's natural gas markets.

The completion of adjustments to ten regulations covering natural gas and LNG transport, distribution, sales and fares were originally scheduled to be completed by August 2022, but they have all been delayed to later dates.

The new schedule has three actions set to be concluded by 2023, including one set for August 2023.

The announced delays means that all 10 of the key rules announced to facilitate the opening of the natural gas market currently dominated by state-owned Petrobras have been delayed. ANP had to redo the schedule since at least three actions should have already been concluded by now, and the other five actions would have to be concluded by the end of this year.

The natural gas market in Brazil waits for these updates on existing regulations or the creation of new ones, to better operate the new market under the new gas law, approved in April. 
ANP is telling market participants that the new regulations will not hinder the gas market expansion and that if this is the case, the agency will address subjects individually.

By Rebecca Gompertz