BG sells stake in Brazilian gas distributor

BG Group has completed the sale of its 60.1% interest in Brazilian gas distributor Comgas for $1.7 billion to Cosan SA Industria e Comercio of Brazil.

BG and Shell bought the Sao Paolo gas distribution company, Brazil’s largest, in 1999 for nearly $992.7 billion. Shell and Cosan have a joint venture called Raizen that produces ethanol from sugar cane (OGJ Online, June 2, 2011).

BG called the sale of its Comgas interest part of a strategy to exit its gas transmission and distribution and power businesses.

In October it agreed to sell its controlling interest in India’s Gujarat Gas Co. Ltd. for $470 million and the sale in May of its interests in two Philippines power plants for $360 million.

Related Articles

Christie calls for N. American energy system improvements

09/05/2014 Mexico, Canada, and the US will need to significantly increase investments in energy systems if they expect to achieve the full benefits of a North...

MARKET WATCH: Crude oil experiences week-long ‘bumpy ride’

09/05/2014 The crude oil market was taken on a “bumpy ride” down a rocky road for much of this week, according to a commodities research note from Barclays Re...

Devon Canada files with AER for Walleye oil sands project

09/05/2014

Devon Canada Corp. has submitted applications with Canada’s Alberta Energy Regulator for its Walleye steam-assisted gravity drainage project.

AU Energy to acquire Tullow Netherlands unit

09/05/2014 AU Energy BV, a subsidiary of Mercuria Energy Group Ltd., has agreed to acquire Dutch operated and nonoperated L12/L15 block interests and nonopera...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected