Mines and Energy sees room for a reduction of up to 62% in gas – 06/18/2023 – Panel
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The Minister of Mines and Energy, Alexandre Silveira, sees room for gas prices to fall by up to 62% for industries.
The portfolio is in the final stages of preparing the Gas to Employ program, which aims to boost production and the fuel distribution structure.
Ministry calculations, to which the Panel had access, show that today gas for the industry is traded in contracts ranging from US$ 13.34/MMBtu (million BTUs) to US$ 18.44/MMBtu.
Silveira argues that there is room to increase supply in the market, thus allowing for a drop in price. For that, there would need to be a change in the production strategy.
Today, part of the extracted gas is reinjected into the wells, which favors oil production. By partially reducing this insertion and thus increasing supply, the ministry’s accounts bet that the price could reach US$ 7/MMBtu or US$ 8/MMBtu. The reduction in price would therefore range from 40% to 62%.
On the eve of the increase in federal taxes, Petrobras announced, this Thursday (15), a cut of R$ 0.13 per liter in the sale price of gasoline in its refineries. The product was already being pressured by the change in the ICMS collection model.
According to the state company, starting this Friday (16), a liter of gasoline in its refineries will cost, on average, R$ 2.66. It is the lowest value since February 2021, in figures corrected for inflation, and BRL 1.50 below the record of BRL 4.16 reached in June 2022.
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