Spain's Gas Natural enters Brazilian distribution market

Spain's Gas Natural plans to invest 400 million reals in its natural gas distribution concession in Brazil's southern Sao Paulo state during the next 5-10 years.The company also plans to build at least one gas-fired thermoelectric plant in the area; the proliferation of such plants will be a key driver of Brazil's expected skyrocketing growth in gas demand.Gas Natural acquired the right to distribute gas under the concession at a state-sponsored privatization auction late last month.Gas Natural swept aside competitors in the auction for the final gas distribution area in Sao Paulo, Brazil's largest and most industrialized state. The company paid 533 million reals, a full 4...

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