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Brazil’s Petrobras To Sell Gas Pipeline For US$5.19 Billion

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazilian oil giant Petrobras announced on Friday that its Board of Directors have approved the sale of ninety percent of Nova Transportadora do Sudeste (NTS) pipeline to a consortium led by Brookfield for US$5.19 billion.

“This transaction is significant for the Petrobras Divestment Plan,” stated the press release on Petrobras’ website. “It corresponds to roughly 35 percent of the US$15.1 billion target for the 2015-2016 period.”

According to Petrobras officials, 84 percent of the value of the sale (US$4.34 billion) will be paid . . .

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