Petrobras Reported Gas Sales of 50 MMcm/d in 2024

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BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 3.Feb.2025) — Petrobras reported average natural gas sales of 47 million cubic meters per day (MMcm/d) in 2024, down 2 MMcm/d compared to 49 MMcm/d in 2023, mainly owing to a growing participation of other agents in the market and lower demand from the non-thermoelectric segment. 

In terms of gas imports, Petrobras imported an average 4 MMcm/d of liquefied natural gas (LNG) in 2024 compared to 2 MMcm/d in 2023, while it imported an average 13 MMcm/d in 2024 of piped-gas from Bolivia compared to 16 MMcm/d in 2023, Petrobras revealed 3 Feb. 2024 in its 4Q:24 Production & Sales Report.

On gas operations offshore Colombia with state-owned Ecopetrol, Petrobras highlighted discoveries in 2024.

“We would like to highlight the confirmation of a record volume of gas discoveries in Colombia, expanding important horizons for the company’s future,” Petrobras chief exploration and production officer Sylvia dos Anjos Chief Exploration and Production Officer said in the report.

RELATED: Petrobras Hits 2024 Production Targets

Launch of first module of UPGN

Importantly during the last part of 2024, Petrobras, on 10 Nov. 2024, launched the first module of the Natural Gas Processing Unit (UPGN), located at the Boaventura Energy Complex (Itaboraí, RJ). 

The first module has capacity to process up to 10.5 MMcm/d of gas, while the second module, also with a processing capacity of 10.5 MMcm/d, is slated to start operating by the end of the 1Q:25. 

Boaventura is part of the Route 3 Integrated Project to transport gas from Santos Basin. 

“The start-up of such an important project for the natural gas market is essential for the country and for boosting Petrobras’ competitiveness in the new dynamic and competitive environment of the national gas market,” Petrobras chief energy transition and sustainability officer Maurício Tolmasquim said as well in the report.

“We are strengthening our asset portfolio, investing in Brazil and we will be able to reduce imports. With this, we will be able to provide new commercial conditions to Petrobras customers and increase our supply reliability, which is already practically 100%,” Tolmasquim said. “Now, with all our energy and the new gas from the Boaventura Energy Complex we will be supplying distributors and industry clients interested in sustainable and competitive solutions.” 

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By Aaron Simonsky reporting from Belize City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.

ENERGY ANALYTICS INSTITUTE (EAI) https://energy-analytics-institute.org

Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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