Petrobras (PETR4) and Unigel sign a natural gas contract for fertilizer plants

Charlie Taylor

Petrobras (petr4) and Proquigel Química, from the Unigel Group, signed a contract for the supply of natural gas to fertilizer units in Bahia and Sergipe, leased by the state company to the company in the petrochemical sector, Unigel said on Friday (29) .
According to Reuters, after signing the agreements, the Sergipe unit, located in the municipality of Laranjeiras, tends to operate as early as January, while the plant in Bahia, in Camaçari, should start operations in late March, the company said .
Petrobras (PETR4) has a loss in the 2nd quarter; hedge and POS expenses weighPetrobras (PETR4) has a loss in the 2nd quarter; hedge and POS expenses weigh

Movement

In the case of Sergipe, the movement of natural gas will be the responsibility of Sergipe Gás S / A (Sergas), which said it had invested R $ 2.8 million in the construction of the necessary infrastructure for the operation.
Ownership of fertilizer assets, formerly known as Fafens and now called Unigel Agro, was transferred to the Unigel Group by Petrobras in August 2020, when operations were expected to start in January this year.Alter - Cryptoback

The lease

The factories' lease to Unigel has a ten-year term, with the possibility of renewal for another decade.
“The contract… will be enough to supply the two fertilizer factories. This will help Unigel to meet an important demand for inputs for agriculture, livestock and domestic industry, which today depends on imports from other countries, resuming the production of urea and ammonium sulfate ”, said in a note Unigel CEO, Roberto Noronha Santos .
The company
The company also pointed out that the resumption of the factories reinforces its competitiveness in the acrylic segment, since part of the ammonia produced in the units in the Northeast will no longer be imported.
Unigel, according to company information, is the largest Latin American producer of acrylics and styrenics, with plants in the states of São Paulo and Bahia.Alter - Cryptoback
The company
Earlier this month, the company had announced the raising of US $ 110 million in the international capital market for investments in fertilizer assets leased from Petrobras.
The value of the natural gas contract with the state-owned company was not disclosed.
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The post Petrobras (PETR4) and Unigel sign a natural gas contract for fertilizer plants first appeared in 1 Billion Financial Education.


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