|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the PBR 20-F filed May 22, 2009. Equity Participation in
Distribution Companies
Under Brazilian law, each state holds a monopoly over local gas
distribution. Most states have formed companies to act as local
gas distributors and we hold interests that vary from 24% to
100% in 20 of these 27 distribution companies. Nonetheless, in
all of the companies where we hold a minority stake, we appoint
executive officers and members of the board of
43
Table of Contents
directors. The State of Espírito Santo has assigned us
exclusive rights to distribute natural gas through our BR
subsidiary. In 2008, Brazil’s distribution
companies sold a combined 50
mmm3/d
(1,732 mmcf/d) of natural gas, of which our share was 22%,
according to our estimates.
The map below shows the name and
location of each local gas distributor in which we have an
equity interest and our share in those companies.
Our most significant distribution
holdings are:
According to our estimates, our two most significant holdings,
CEG Rio and Bahiagás, sold 18.3% and 7.1% of Brazil’s
national gas volumes in 2008, respectively. CEG Rio and
Bahiagás are Brazil’s second and fourth largest gas
distributors. These companies, together with independent
distributors Comgás (28.3% of Brazil’s 2008 national
gas volumes) and CEG (17.3% of the same), supply 71% of the
Brazilian market.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||
